Electricity in Singapore in 2023/2024

As of the recent twelve-month period from June 2023 to May 2024, Singapore's electricity consumption is dominantly reliant on fossil fuels, specifically natural gas. A significant majority, comprising more than 95% of the electricity, is generated from gas, underscoring a heavy dependence on fossil energy. In stark contrast, low-carbon energy sources are contributing a mere 2% of the electricity, with solar energy fulfilling this entire low-carbon segment. This highlights an area of opportunity for Singapore to balance its energy mix with more sustainable and clean energy options beyond its current almost exclusive reliance on fossil fuel.

Suggestions

For Singapore to amplify its low-carbon electricity generation, it could draw lessons from countries that have successfully integrated nuclear and wind energy into their electricity generation portfolios. France and Slovakia, for instance, generate more than half of their electricity from nuclear power, exemplifying the potential scale of nuclear energy. Similarly, Denmark, with nearly 60% of its electricity from wind, showcases the viability of wind power. Although Singapore differs geographically, its economic status and innovation capacity align with countries like Denmark and France. By harnessing these learnings and implementing localized strategies, such as offshore wind farms or exploring partnerships for nuclear technology, Singapore can significantly enhance its sustainable energy production.

History

Tracing back Singapore’s history of low-carbon electricity, the journey began in the mid-1980s with the modest introduction of biofuels. Incrementally, biofuels saw minor expansions throughout the ensuing decades, notably around 2000 and 2019 with significant, albeit small-scale, increases. The entry of solar power into the landscape occurred in 2016, followed by gradual increments of solar capacity in the subsequent years, particularly from 2020 onwards. Despite these developments, the scale of solar energy remains modest. Collectively, the expansion in solar energy in recent years reflects a positive trend yet underscores the nascent stage of Singapore's clean electricity initiatives, emphasizing the need for a decisive shift towards higher investments in sustainable energy technologies, particularly nuclear and wind, to align with global energy trends.

Electricity Imports and Exports

Balance of Trade

Data Sources