Forecast: Renewable Energy Supply in Singapore

From 2013 to 2023, Singapore's renewable energy supply exhibited fluctuations, with values oscillating and experiencing both declines and upticks. The renewable energy supply stood at 1.29 Units of Total Primary Energy Supply in 2023, reflecting a modest annual increase of 1.57% from the previous year. Over the last five years, the Compound Annual Growth Rate (CAGR) averaged 1.46%. This period was characterized by incremental growths and occasional downturns, illustrating a relatively stable yet gradual rise in renewable energy deployment.

Future trends to watch for:

• The forecast indicates a steady increase in renewable energy supply, expected to reach 1.38 Units by 2028, driven by a 1.2% forecasted CAGR over the next five years.
• Emerging renewable technologies and enhanced governmental policies could accelerate this growth, aimed at sustainability and reduced carbon emissions.