Renewable Energy Developments in ASEAN Roundtable Discussion on Renewable Energy Investment in Southeast Asia 16 January 2018 World Future Energy Summit Abu Dhabi, UAE
Outline 1. ASEAN Energy Outlook 2. Renewable Energy Deployment in Singapore 3. Singapore International Energy Week (SIEW) 2018
ASEAN Energy Demand by 2040 2025 2040 13% 21% 9% 7% 2015 427 MTOE 12% 38% 15% 20% 8% 653 MTOE 7% 10% 40% 17% 20% 7% 1,046 MTOE 7% 9% 40% Source: 5 th ASEAN Energy Outlook Energy demand in ASEAN is expected to increase 2.4 times by 2040. Industry and transport sectors are expected to expand the most.
Share of ASEAN s Renewable Energy in 2040 ASEAN Target Scenario (ATS) : assumes ASEAN Member States will achieve their national EE & RE targets ASEAN Progressive Scenario (APS) : assumes ASEAN will achieve it regional EE & RE targets Source: 5 th ASEAN Energy Outlook Growing at a average rate of 4% by 2040, RE is projected to have the largest increase in all three scenarios of the 5 th ASEAN Energy Outlook
ASEAN s 23% RE Target by 2025 Source: 5 th ASEAN Energy Outlook ASEAN will need to double RE investments to narrow the 10% gap to achieve the 23% RE target Enabling regulatory policies will be needed to attract private sector investment for RE deployment
Investments in the Power Sector by 2025 Source: 5 th ASEAN Energy Outlook Power generation is an important sector if ASEAN is to meet its 23% RE target
Key challenges and opportunities for ASEAN s RE Landscape Investments amounting to about USD 17 billion annually is needed if ASEAN is to achieve its RE 23% target by 2025 ASEAN Member States will need to enhance their regulatory framework to enable bankable RE projects Falling costs and improving technologies are expected to make ASEAN s RE investments competitive
Singapore s Energy Landscape Natural gas is the dominant fuel source for power generation in Singapore 95% Beyond natural gas, Singapore is also exploring alternative energy options to diversify our energy mix As Singapore is located in the tropical sunbelt with good irradiance. Hence, amongst the renewable energy technologies, solar PV offers greatest deployment potential
Installed Capacity (in MWp) Number of Installations Steady Growth in Solar PV deployment in Singapore Solar Installed Capacity and Number of Installations 160.0 2,500 140.0 120.0 2,000 100.0 1,500 80.0 60.0 1,000 40.0 500 20.0-2008 2009 2010 2011 2012 2013 2014 2015 2016 2017_Q3 Residential Non-Residential Number of Installations - Market interest in solar has been growing in Singapore Take-up is expected to accelerate over the next few years, as prices fall and technologies improve
Facilitating Solar Deployment by Enhancing Regulatory Framework Ensuring robust market rules to encourage new business models by clean energy companies Streamlining of market rules and technical requirements to facilitate deployment of RE for electricity consumers Reflect the true cost of solar to ensure equitability in the system Maintain system-wide security and reliability ahead of increasing intermittent generation sources SolarNova Initiative is to install 350MWp of solar PV by 2020 on government buildings
ASEAN in 2018 Singapore takes on the Chairmanship of ASEAN in 2018, including the ASEAN Energy Track We are hosting the 36 th ASEAN Ministers on Energy Meeting in October 2018 ASEAN energy sector will continue to collaborate with international organisations, including IRENA
Singapore International Energy Week SIEW brings together global energy leaders to discuss key energy issues and solutions in one week one location. SIEW 2017 Highlights:
Asia Clean Energy Summit Focuses on clean energy technology, policy and finance supported by leading government agencies, research institutes, and industry in Singapore. Provides a common platform for regional thought leaders in both the public and private sector to collaborate on critical issues and opportunities in harnessing clean energy for the future. ACES 2017: >2,500 participants, >100 speakers and 61 exhibitors