IS SINGAPORE READY FOR RENEWABLE ENERGY?

As the world is increasingly becoming more aware of its environment, the topic and problem of global warming is rapidly shifting into focus. For many years now, renewable energy has been seen as one of the most effective solutions to reducing our carbon footprint on Earth. In fact, from 2004 through to the end of 2009, worldwide renewable energy capacity increased by 10-30%! The use of renewable energy is indeed rapidly expanding worldwide, especially the United States and Germany. 

But before we begin, 

WHAT IS RENEWABLE ENERGY?

Renewable energy is the energy generated from natural resources such as sunlight, wind, rain, tides and geothermal heat. These energies are constantly replenished and will never run out.

The Benefits of Renewable Energy

Environmental Benefits

Renewable energy technologies are clean sources of energy that have a much lower environmental impact than conventional energy technologies.

Energy for the future generation

Renewable energy will not run out. Ever. Other sources of energy are finite and will some day be depleted.

So, the question remains, IS Singapore ready for renewable energy? What can Singapore do to develop into a Clean Energy Capital?

The SEAS (Sustainable Energy Association of Singapore) has in fact, recently addressed this question. In a seminar held in July 2008, the Chairman of SEAS Mr. Edwin Khew spoke about the challenges in implementing green energy here in Singapore as well as the proposed way forward of developing Singapore in to a Sustainable Energy Centre.

Challenges

One of the major obstacles Asia in general faces in implementing renewable energy technologies is its high cost. Renewable energy such as solar energy and wind energy all require large amounts of capital to sustain (high cost of solar panels, wind turbines etc.). On the other hand the subsidising of fossil fuels in many countries has led to market distortions and artificially low prices of fossil fuels. Most investors also focuses on large opportunities in expansion phase whereas most opportunities are in greenfield start up projects. All these challenges make it difficult for the development and growth of the use of renewable energy in Asia. 

In the case for Singapore, the country has a relatively small market size which does not open a wide market for the new renewable technology. Additional challenges that Singapore would face is the policy challenges. For example the segregation of waste for bio energy etc. The lack of Venture Capital funding for greenfield projects in Singapore also poses an obstacle in the development of this form of energy.

The Way Forward for Sustainable Energy

• We cannot eliminate the use of fossil fuels completely

• We need to diversify the sources of energy to include environmentally benign forms of energy like solar, wind, biomass, hydrogen cells etc

• Demand side management by more efficient & prudent use of energy

• Investing into Clean Energy R & D to come up with cost effective solutions

• Implement the right policies that lead to growth of the sustainable energy sector and make Singapore a centre for sustainable energy solutions and project development

• Promote awareness in both Private & People sector for behavioral changes for the 21st century .......

What has Singapore done to work towards this goal?

Singapore has had a good start in the clean energy race as PM Lee announced, in 2009, a $170 million research fund for the industry. This would mean better and more intensive research and development, testing and pilot projects in clean energy. Also, to realise Singapore's ambition of becoming a major clean energy player, a Clean EnergyProgramme Office (Cepo) was announced in March 2007. CEPO plans to grow the clean energy industry in
Singapore by focusing on cluster development, technology development and internationalization. In cluster development, it already has in place measures to attract major international companies, groom local companies to be world-class players, and to promote start-ups in this industry.

Additionally, the SEAS plans to focus on Solar, Wind and Hydrogen Cells technology and Carbon Services as well as Energy Efficiency. Its target for 2015: value added of S$1.7 billion and employment of 7000. Besides the existing fund provided in 2009 from the government, the SEAS is also planning to invest $375 million grant money for the research and development in Clean Energy.

Following the announcement of the accession to the Kyoto Protocol on 11th July 2006, the government developed a National Climate Change Strategy (NCCS)

• The NCCS is a 3P strategy with 4 Prongs - Mitigation

- Adaptation 

- Public Awareness

-Competency Building (developing climate change related R&D and taking advantage of economic opportunities from climate change action)

As you can see Singapore has already had a well-thought through plan for the development of Singapore's green energies and has begun with the setting up of various corporations to achieve its goal. So, do you think Singapore is ready for Renewable Energy?

I SAY YES. :D

Alternative opinions: http://www.asiaisgreen.com/2008/07/18/singapore-is-not-ready-for-renewable-energy/

Bibliography:

http://en.wikipedia.org/wiki/Renewable_energy

http://www.renewableenergyworld.com/rea/tech/why

http://www.pier55.com/technology/energy/benefits-of-renewable-energy/

http://www.spp.nus.edu.sg/docs/events/2008/16Jul08_Roundtable_Presentation/Khew.pdf

http://egs.apec.org/more-articles/115-singapores-environmental-industry-gets-boost

Nichole

Class 402.