The Singapore Renewable Energy Market Report is Segmented by Source (Solar, Bioenergy, Other Sources), Installation Type (On-Grid, Off-Grid/Micro-grid), End-User (Residential, Commercial and Industrial, Utilities), and Geography (Singapore). The Market Forecasts are Provided in Terms of Value (USD), Based On Availability.

Context

This data has been used in a Final-year-project to predict the half-hourly energy demand of Singapore. Half hourly demand data from 2017 to 2019 was used for training and validation, while the 2020 data was used for testing. Complementary data, like historical weather, were used as input features. Deep learning models, such as LSTM, were used to achieve high prediction accuracies.

Content

All datasets are publicly available information obtained from the EMA, EMC and Datagov. The source links have been provided in the description of each file/folder.

Acknowledgements

I would like to thank EMA, EMC and Datagov for the information.

Singapore Renewable Energy Market size was valued at $ 309.90 Mn in 2024 and is expected to reach $ 401.81 Mn by 2032, growing at a CAGR of 3.3% from 2026 to 2032.Singapore Renewable Energy Market DynamicsThe key market dynamics that are shaping the Singapore renewable energy market include:Key Market DriversTechnological Advancements in Energy Storage: Technological advancements in energy storage are improving Singapore's ability to handle intermittent renewable energy, particularly solar electricity. Since the launch of a $15 million Energy Storage Systems (ESS) test bed in 2018, and with plans to deploy 200 MW of storage capacity by 2023, these systems have significantly improved grid reliability, reducing solar energy curtailment by approximately 30% and allowing for more efficient integration into the national grid. This is driving expansion since it promotes energy stability, maximizes solar use, and is consistent with Singapore's net-zero goals.

As of June 2024, Singapore produced about **** percent of its electricity from natural gas. Natural gas is the cleanest form of fossil fuel and is therefore used to lower the emissions through power generation in Singapore. Singapore’s energy sector  Up until 50 years ago, Singapore’s power generation relied heavily on coal. However, economic development had led to an increase in the demand for electricity. Current challenges such as climate change and digitalization, which will further increase the need for electricity, has led to the decision to switch mainly to natural gas and renewable power sources. Unsurprisingly, this resulted in a rise in natural gas consumption, reaching about **** billion cubic meters in 2023. Due to a lack of land, renewable power sources are limited. Currently, Singapore is trying to expand its solar power generation. As of 2022, Singapore’s solar energy capacity reached about ***** megawatts.    The future of Singapore’s electricity consumption To further improve its electricity generation, the government has decided to slowly liberalize the energy market. The variety of providers was intended to help households and companies to take a closer look at their consumption and to be able to manage it better. The government has also started to provide more information on the subject and is trying to further improve the efficiency of the power generation system. 

The Singapore Renewable Energy Market size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 3.00">> 3.00 % during the forecasts periods. Recent developments include: In July 2021, Sembcorp Industries unveiled one of the world's largest floating solar panel farms. The project is located on a reservoir in western Singapore, with a 60 MW peak solar photovoltaic (PV) farm installed capacity., In March 2021, Amazon announced its first renewable energy project in Singapore, a 62 megawatt (MW) solar project made up of a series of solar panels mounted on a ground system. The project is expected to generate 80,000-megawatt-hours (MWh) of clean energy annually, enough to power more than 10,000 homes in Singapore.. Key drivers for this market are: 4., Increased Government Investment in Establishing Water Treatment Infrastructure4.; Increase in Power Generation Using Steam. Potential restraints include: 4., The Emissions Regulations, High Capital and Operations Costs. Notable trends are: The Solar Energy Segment is Expected to Dominate the Market.

The electricity generation capacity of Singapore amounted to about **** thousand megawatts as of June 2024. About ** percent of Singapore's electricity is generated from natural gas, which makes gas one of the most important fuel sources in Singapore. Singapore’s natural gas industry is key Natural gas is considered to be the cleanest fossil fuel. When burned, it emits about ** percent less CO2 than coal and about ** to ** percent less than oil. Most of Singapore’s gas is imported via pipelines from neighboring countries such as Indonesia and Malaysia. This gas is known as Piped Natural Gas. However, in recent years, Liquid Natural Gas (LNG) has started to become an option for electricity generation. In 2013, Singapore launched its first LNG terminal to distribute the gas in and outside of the country. Rise of the solar energy generation In order to not only be dependent on gas, the government started to invest in alternative means of energy generation. Due to the many hours of sunshine in the country, solar power generation has the best chance of asserting itself as a main power supply alongside gas. In 2023, the solar energy capacity reached an output of about *** megawatts and is expected to grow further in the coming years.

Dataset from Singapore Department of Statistics. For more information, visit https://data.gov.sg/datasets/d_7e0a9d1437d22e6910568a3092177b71/view

Forecast: Total Renewable Energy in Singapore 2024 - 2028 Discover more data with ReportLinker!

The Southeast Asia Solar Energy Market size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 10.20 % during the forecasts periods. Recent developments include: October 2022: Acwa Power secured a contract from Indonesia's state-owned utility, PT Perusahaan Listrik Negara (PLN), to build two floating solar photovoltaic (PV) power plants. The deal encompassed the 60 MW Saguling and 50 MW Singkarak floating solar projects. The two projects were likely to have a combined capacity of 110 MW and cost USD 105 million to build., April 2022: The Sunseap Group of Singapore signed an agreement with the provincial administration of Indonesia's Riau Islands to build large-scale solar energy and storage projects to supply power to the islands and Singapore.. Key drivers for this market are: 4., Increasing Renewable Energy Installation to Reduce the Carbon Emission4.; The Decreasing Price of Solar PV Modules. Potential restraints include: 4., Increasing Adoption of Alternative Renewable Technologies like Hydropower. Notable trends are: Solar Photovoltaic Expected to Dominate the Market.

Singapore SG: Renewable Energy Consumption: % of Total Final Energy Consumption data was reported at 0.709 % in 2015. This records an increase from the previous number of 0.622 % for 2014. Singapore SG: Renewable Energy Consumption: % of Total Final Energy Consumption data is updated yearly, averaging 0.500 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 0.709 % in 2015 and a record low of 0.195 % in 1990. Singapore SG: Renewable Energy Consumption: % of Total Final Energy Consumption data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank: Energy Production and Consumption. Renewable energy consumption is the share of renewables energy in total final energy consumption.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted average;

Comprehensive dataset containing 101 verified Solar energy company businesses in Singapore with complete contact information, ratings, reviews, and location data.

In 2023, approximately **** exajoules of primary energy were consumed in Singapore. Singapore’s total energy demand included an energy mix of coal and peat, petroleum products, natural gas and electricity generation. Singapore’s energy mix While electricity generation and natural gas accounted for about ** and ** percent respectively, petroleum products made up over ** percent of the primary energy consumption in Singapore. Petroleum products are materials derived from oil and mostly converted into several classes of fuel. Singapore’s industry sector is highly dependent on fuel supply, consuming about ** percent of the petroleum products. In 2022, Singapore imported about ****** ktoe (kilotons of oil equivalent) of petroleum products. Singapore’s electricity marketOver ** percent of the electricity was generated from natural gas. The remaining five percent were distributed across renewable sources, petroleum products and coal. The use of renewable sources was limited due to the lack of space in the country. However, Singapore has started to install solar panels on its many high-rise rooftops, to harness the many hours of sunshine to advance solar power generation.

Forecast: Energy Consumption in Industry in Singapore 2023 - 2027 Discover more data with ReportLinker!

The Singapore renewable energy market, valued at approximately $X million in 2025 (assuming a logical extrapolation based on the provided CAGR and market size), is projected to experience robust growth, exceeding a 3% compound annual growth rate (CAGR) through 2033. This expansion is fueled by several key drivers. The Singaporean government's strong commitment to sustainability and its ambitious renewable energy targets are creating a favorable regulatory environment, incentivizing investment and deployment of renewable energy technologies. Furthermore, rising energy prices and growing concerns about climate change are driving increased demand for cleaner energy sources. Significant technological advancements in solar photovoltaic (PV) and bioenergy technologies are also contributing to cost reductions and increased efficiency, making renewable energy increasingly competitive with traditional sources. The market is segmented primarily across solar, bioenergy, and other sources, with solar currently dominating due to its technological maturity and government support. However, the market's growth is not without its challenges. Land scarcity in Singapore is a significant constraint, limiting the potential for large-scale renewable energy projects. High upfront capital costs associated with renewable energy infrastructure can also pose a barrier to entry for some investors. Addressing these challenges requires strategic planning and innovative solutions, such as exploring rooftop solar installations and integrating renewable energy sources into existing infrastructure. Key players like Sunseap Group, Solargy Pte Ltd, and Sembcorp Industries are actively shaping the market landscape through their investments and project developments. The forecast period from 2025 to 2033 is expected to witness substantial growth driven by increasing adoption and technological innovations within the renewable energy sector in Singapore. Recent developments include: In July 2021, Sembcorp Industries unveiled one of the world's largest floating solar panel farms. The project is located on a reservoir in western Singapore, with a 60 MW peak solar photovoltaic (PV) farm installed capacity., In March 2021, Amazon announced its first renewable energy project in Singapore, a 62 megawatt (MW) solar project made up of a series of solar panels mounted on a ground system. The project is expected to generate 80,000-megawatt-hours (MWh) of clean energy annually, enough to power more than 10,000 homes in Singapore.. Notable trends are: The Solar Energy Segment is Expected to Dominate the Market.

Singapore Primary Energy Consumption per Capita data was reported at 160,276.984 kWh/Person in 2023. This records an increase from the previous number of 147,572.328 kWh/Person for 2022. Singapore Primary Energy Consumption per Capita data is updated yearly, averaging 104,456.758 kWh/Person from Dec 1965 (Median) to 2023, with 59 observations. The data reached an all-time high of 164,802.547 kWh/Person in 2017 and a record low of 25,737.217 kWh/Person in 1965. Singapore Primary Energy Consumption per Capita data remains active status in CEIC and is reported by Our World in Data. The data is categorized under Global Database’s Singapore – Table SG.OWID.ESG: Environmental: CO2 and Greenhouse Gas Emissions: Annual.

Singapore Energy Balance: Primary: Total Crude: Production From Other Sources data was reported at 0.000 Metric Ton th in Feb 2025. This stayed constant from the previous number of 0.000 Metric Ton th for Jan 2025. Singapore Energy Balance: Primary: Total Crude: Production From Other Sources data is updated monthly, averaging 0.000 Metric Ton th from Jan 2009 (Median) to Feb 2025, with 194 observations. The data reached an all-time high of 0.000 Metric Ton th in Feb 2025 and a record low of 0.000 Metric Ton th in Feb 2025. Singapore Energy Balance: Primary: Total Crude: Production From Other Sources data remains active status in CEIC and is reported by Joint Organisations Data Initiative. The data is categorized under Global Database’s Singapore – Table SG.JODI.WDB: Energy Balance: Oil. Total = Crude oil + NGL + Other; Inputs of additives, biofuels and other hydrocarbons that are produced from non-oil sources such as: coal, natural gas or renewables

Singapore SG: Access to Electricity: % of Population data was reported at 100.000 % in 2016. This stayed constant from the previous number of 100.000 % for 2015. Singapore SG: Access to Electricity: % of Population data is updated yearly, averaging 100.000 % from Dec 1990 (Median) to 2016, with 27 observations. The data reached an all-time high of 100.000 % in 2016 and a record low of 100.000 % in 2016. Singapore SG: Access to Electricity: % of Population data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Singapore – Table SG.World Bank: Energy Production and Consumption. Access to electricity is the percentage of population with access to electricity. Electrification data are collected from industry, national surveys and international sources.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted average;

Singapore Data Center Power Market is Segmented by Component (Electrical Solutions and Services), Data Center Type (Hyperscaler/Cloud Service Providers, Colocation Providers, and More), Data Center Size (Small Size Data Centers, Medium Size Data Centers, Large Size Data Centers and More), Tier Type (Tier I and II, Tier III, Tier IV). The Market Forecasts are Provided in Terms of Value (USD)

Forecast: Energy Consumption in Services in Singapore 2023 - 2027 Discover more data with ReportLinker!

The Singapore data center power market is booming, projected to reach [Value based on extrapolated data from chart_data] by 2033, driven by cloud adoption and 5G growth. Learn about key players, market trends, and growth opportunities in this comprehensive analysis. Recent developments include: January 2024: Caterpillar Inc. partnered with Microsoft and Ballard Power Systems to test the use of large-format hydrogen fuel cells as a reliable and eco-friendly backup power source for multi-megawatt data centers. Hydrogen fuel cells are seen as a possible low-carbon alternative to diesel backup generators, which is expected to drive the growth of DC generators., March 2024: Schneider Electric announced the expansion of its US manufacturing facilities at two locations to support critical infrastructure of data centers and other industries. At both locations, the company planned to manufacture electrical switchgear and medium-voltage power distribution products.. Key drivers for this market are: The Rising Adoption of Mega Data Centers and Cloud Computing, Increasing Demand to Reduce Operational Costs. Potential restraints include: High Cost of Installation and Maintenance. Notable trends are: The IT and Telecom Segment is Expected to Maintain a Significant Market Share.