Singapore's renewable power generation has shown a steady increase from 0.72 TWh in 2013 to 1.06 TWh in 2023. The YoY variations indicate fluctuations with early years reaching up to 11.96%, while recent years display more stability, with percentages around 2-3%. The CAGR over the last five years averages at 3.31%, which is consistent with the gradual rate of increase observed.
Forecasts from 2024 suggest the generation will continue to grow, reaching 1.19 TWh by 2028, with a forecasted 5-Year CAGR of 1.9%. This implies a deceleration in growth but still denotes progress in renewable energy adoption.
Future trends to watch for include advancements in technology, government policies boosting renewable investments, and regional sustainability initiatives. Observing market forces and regulatory changes will be critical to understanding the future landscape of renewable energy in Singapore.
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