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31DIRECTORYOFSINGAPOREPROCESS&CHEMICALSINDUSTRIES2023/2024ButunlikethepastwenowhavethetoolsweneedandthewilltomakeithappenInthe1990sand2000sastheclimatecrisisintensifiedanewfocusemergedonrenewableenergysourcesincludingsolarandwindwhichcleared the way for technological advancementsimprovedmanufacturingandspecialsubsidiesthatloweredbarrierstoentrySolutionslikesolarphotovoltaicsandonshorewindpowerbecamescalableaccessibleandaffordable(withcostsfallingby82%and39%overthelastdecade)saidMrJurgensIn the coming years we can expect advancedenergysystemstoprogressevenfurtherasthecostofnewrenewablesfallsatanevengreaterspeedBy2027 theInternationalEnergy Agencypredicts2400GWgrowthinrenewablepowercapacity–an85¬celerationfromthepreviousfiveyearsThisexpansionisexpectedtocreateadiverseenergymixwithlow-carbonsystemssuchassolarwindbiomassnuclearandhydrogen offering clean and secure energyheaddedSingaporeRevsUpDecarbonisationDriveAlow-lying city-state vulnerable to theimpactofclimatechangeSingaporehasjoinedtheglobalefforttodecarboniseTryingtocutdownemissionsata timeofincreasingenergydemandisnomeanfeatElectricitydemandisprojectedtogrowbyatleast4%peryearbetween2023and2028largelydrivenbynewinvestmentsinenergy-intensivesectorssuchasadvancedmanufacturinganddatacentresSingaporehasannouncedplanstoharnessfour switches-natural gas solarregionalpowergridsandlow-carbonalternatives-totransformitsenergysupplywhilepromotingenergyefficiencytoreducedemandWhilenaturalgaswillremainacriticalpartoftheenergymixthequantumwillbepareddownfromthecurrenthighofover90%if thecountry were toachieveitsgoalofnetzeroin2050OfallthecleanenergyalternativessolaristhecountrysbestoptiondespiteissuessuchashighcloudcoverandurbanshadingWithsolarpanelsinstalledonrooftopsreservoirsandalongthecoastSingaporeexpectstogeneratesome2gigawatt-peakofsolarenergyby2030whichcanpowerupto350000householdonasunnydayThoughlimiteditisasharpincreasefromthe800megawatt-peakin2022Singaporeis piloting theuse ofregional powergridsUndertheLaoPDR-Thailand-MalaysiaSingaporePowerIntegrationProject(LTMS-PIP)signedbetweenKeppelElectricandLaosstateownedEDinJune2022Singaporeisimporting1000MWofrenewablehydropowerfromLaosusingexistinginterconnectionsoveratwo-yearperiodSimilarlysince2023YTLPowerSerayaand TNBGencohavebegunsupplyingelectricitytoSingaporefromMalaysiaIfthepilotsprovedviableSingaporesplanistoimportupto4gigawattoflow-carbonelectricityby2035accountingforupto30%ofprojectedelectricitysupplyButofallthelowcarbonalternativesitishydrogenwhichpromisestobethegamechangerforSingaporeIfhydrogencanbeharnessedit can supplyup tohalf of thenationspowerneedsby2050SingaporesNationalHydrogenStrategySingaporehas joined theglobalsearch for thebestmeanstoharnesslow-carbonhydrogenWhilegreenhydrogenproducedfromwaterusingrenewableenergyisessentiallyemissionfreetheverylightgasishighlyflammableandmustbehandledwithcareManyhydrogentechnologiesarestillunderdevelopmentandaglobalsupplychainhasyettobeestablishedAttheSingaporeInternationalEnergyWeekinOctober2022DeputyPrimeMinisterandMinisterforFinanceLawrenceWonglaunchedSingaporesNationalHydrogenStrategyAsaclean fuel that can be used to generate electricitylow-carbonhydrogencansupportourtwinobjectivesofreducingcarbonemissionsandsafeguardingourenergysecurityIftechnology