Singapore's renewable electricity generation has shown a positive trend from 2013 to 2023. The share of renewable electricity grew from 1.55% in 2013 to 2.14% in 2023, a reflection of increasing investment and focus on sustainable energy sources. The year-on-year variation, while initially high in the early 2010s, has stabilized to more modest growth rates in recent years, with 2023 showcasing a 2.05% increase from the previous year. The compounded annual growth rate (CAGR) over the last five years stood at 2.23%, indicating steady growth albeit at a slower pace.
Forecasts from 2024 to 2028 predict continued growth in renewable electricity generation. The CAGR for this period is expected to be 1.42%, with an overall growth rate of 7.33% by 2028. This suggests a consistent, though slightly decelerating, increase in the share of renewable energy in Singapore’s electricity mix.
Future trends to watch for include advancements in renewable technologies, policy changes boosting green energy adoption, and potential shifts in consumer and industry energy demands. Continuous monitoring of these elements will be crucial in accurately assessing the trajectory of Singapore’s renewable energy landscape.
