Singapore is Asia’s first market for solar photovoltaic (PV) technologies and no subsidies have been required to sustain this market. Solar PV is a natural choice for Singapore that has high solar irradiation levels with minimal seasonal variation, thanks to its close proximity to the equators. Singapore has enough space to accommodate 6GWp of solar PV (17% of current energy demand). Nonetheless, today only 3.4% of all energy consumption comes from solar and waste energy.
Other than solar energy, Singapore is also emphasising wind energy, biomass, tidal energy, smart grids, green buildings, energy efficiency and carbon services. The country could meet 7% of its energy demand with renewable energies unlocking private sector investment of € 2-2.6 billion in the next 12 years. The potential market size of biomass energy is € 42 million.
The market offers interesting opportunities for EU companies in the following product areas:
- PV materials, cells and modules (very high-efficiency c-Si cells, high efficiency multi-crystalline solar cells)
- PV grid integration (components and software for smart grids)
- PV systems for the tropics (rural and industrial off-grid PV applications, including PV hybrid systems)
- Partnerships with Singaporean companies to respond to SolarNova, a government-led solar lead demand programme
- Research co-operation with local companies
- Technology-led solutions in the production of biomass fuel from horticultural waste and wood waste
- Partnerships with Singaporean companies to export technical solutions and business models to countries in the region where there is abundant biomass waste.
Does your company operate in the Green Energy industry? Do not miss the opportunity to participate in a 5-day Business Mission to Singapore & Malaysia. If your company meets the eligibility criteria, submit your expression of interest now and complete your application by Friday, 8 July 2016.