The report references the International Energy Agency, noting that as global tech giants and other companies set net-zero emission targets for their growing operations and supply chains, Singapore needs to expand its access to LCE to meet environmental needs and maintain the global competitiveness of its export industries. Singapore's semiconductor industry contributes more than 9% of the nation's GDP and 11% of the global chip output. By 2035, Singaporean companies aim to adopt 21 to 26 TWh of LCE annually, approximately 30% of the country's total power consumption. However, it is difficult for companies to source the LCE they need, and future projections indicate challenges.
The Energy Collaborative has identified six key areas of LCE policy-related actions for Singapore. Each recommendation is supported by detailed analysis of current and historical market conditions. In summary, the EC recommends the following strategies for scaling up LCE adoption:
- Signing an energy import declaration with neighboring countries
- Expanding the role of Singapore's transmission system operator (TSO) to include ownership of electricity import infrastructure
- Establishing a "one-stop shop" for import plan permits
- Leveraging the Future Energy Fund to support the adoption of low-carbon alternatives
- Maximizing Singapore's solar potential and providing outlook certainty
- Developing a robust ASEAN green hydrogen ecosystem to satisfy the long-term clean energy needs for Singapore
"SEMI and our Energy Collaborative sponsors recently presented our recommendations to the Singapore Ministry of Trade & Industry, as well as the Energy Market Authority, and engaged in very productive discussions," said Dr. Mousumi Bhat, Vice President, SEMI Global Sustainability. "Alongside key members of the semiconductor value-chain, we will continue to hold regular dialogues to explore progress and new opportunities to expand LCE in the Republic of Singapore."
The Energy Collaborative aims to reduce global semiconductor ecosystem carbon emissions as well as understand and clear regulatory and market-based roadblocks that hinder installing and procuring low-carbon energy sources in the Asia-Pacific region. The Energy Collaborative partners with civil society and other organizations which share similar objectives to leverage expertise and strengthen the voices calling for expanded access to LCE.
Singapore is the fourth market report released and follows South Korea, Japan and Taiwan. Downloads available.
Organizations interested in joining the effort are encouraged to explore Energy Collaborative sponsorships or contact the Energy Collaborative at Email Contact.
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