{"id":2854,"date":"2020-05-19T11:58:54","date_gmt":"2020-05-19T03:58:54","guid":{"rendered":"http:\/\/www.sunproenergies.com\/?p=2854"},"modified":"2024-03-20T10:38:06","modified_gmt":"2024-03-20T02:38:06","slug":"renewable-industry-outlook-may-2020","status":"publish","type":"post","link":"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/","title":{"rendered":"Renewable Industry Outlook: May 2020"},"content":{"rendered":"

Opinion piece by SunPro Energies<\/em><\/span><\/p>\n

Ignorance need not be bliss. Especially in a generation that moves ahead with changing times, knowledge is one\u2019s defense against becoming obsolete.<\/p>\n

The same goes for our knowledge about the environment and what needs to be protected during unprecedented times: humans, relationships and the world we live in.<\/p>\n

As the nation enters its second-half of the Circuit Breaker, we are left wondering how long more we can sustain financially, emotionally and environmentally. We begin to re-imagine the world we hope to live in, piecing the broken pieces wherever we can. And one piece is that of our energy mix \u2014 solar energy is an available and accessible option here in Singapore.<\/p>\n

Here are three facts about the industry right now:<\/p>\n

1. Of all alternative energy sources, solar energy is the most promising \u00a0<\/strong><\/h3>\n

The US Energy Information Administration estimates<\/a> an uptake in renewable energy by 13 percent from 2018 to 2050. Of this increase, the projection of solar energy is the highest, registering almost 50 percent of future renewable energy mix.<\/p>\n

\"\"
Source: U.S. Energy Information Administration, Annual Energy Outlook 2019<\/figcaption><\/figure>\n

Almost an epiphany, many countries are beginning to witness both the dire consequences of climate change as well as the glimmer of hope in creating future greener societies. This provides renewable energy sources with a new and promising lease of life.<\/p>\n

The interconnectivity of grids is also sighted<\/a> to improve over the years, allowing for more efficient switches to renewable energy sources. When the pace of construction allows for solar panels to be effectively built in suitable areas to match the targets, the world will be running on safer, cleaner and longer-lasting energy.<\/p>\n

 <\/p>\n

2. Local & global demand for solar is expected to climb steadily <\/strong><\/h3>\n

In homeland, Singapore is already on track to reach her solar target<\/a> of 350 megawatt-peak (MWp) by 2020. The Energy Market Authority of Singapore cites solar energy as the first renewable energy source it will work towards. With the availability and accessibility of solar energy, the switch is not surprising.<\/p>\n

What we need to understand is that the market players are changing the game. In the longer term, Singapore\u2019s new solar target by 2030 is at least 2 gigawatt-peak (GWp) and her energy storage deployment target is 200MW beyond 2025.<\/p>\n

 <\/p>\n

3. Investments into solar technologies is on the rise <\/strong><\/h3>\n

In the innovation adoption life cycle, we are roughly somewhere in the \u2018Early Adopters\u2019 segment. Truth is, many investors have already begun spotting and sprucing up solar technologies to meet incoming demand.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"\"
Source: IEA (Paris)<\/figcaption><\/figure>\n

 <\/p>\n

Statistics report<\/a> proves there has been a steady, if not incremental, global pumping of funds into solar technologies as early as 2010, crossing the 100 billion US dollars mark. Interestingly, the World Energy Investment 2018 report shows<\/a> that corporate investments in new energy technology companies have risen to nearly 40 percent in 2017.<\/p>\n

China now tops<\/a> the world\u2019s ranking in terms of clean energy investment, investing 83.4 billion US dollars in 2019 alone. In Singapore, the Solar Energy Research Institute of Singapore<\/a> (SERIS) was started to pioneer intensive R&D into solar technologies and integration into power systems and buildings. Co-supported by the National University of Singapore (NUS), the National Research Foundation (NRF) and the Singapore Economic Development Board (EDB), it is a testimony to the future of solar energy.<\/p>\n

The outlook of solar energy locally and globally becomes irrefutable. Let\u2019s look forward to a more sustainable and resilient future together with solar!<\/p>\n

–
\nHere at SunPro, we believe that sustainability is necessary.<\/span><\/p>\n

We believe switching to solar energy is the mediator between environmental and financial costs. If you\u2019d like to enquire more about solar systems, feel free to reach out to us here<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Three facts about the renewable industry indicates the promising rise of solar energy today. <\/p>\n","protected":false},"author":6,"featured_media":5364,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[20,21,22,23,24,25,26],"class_list":["post-2854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-cleaner-energy","tag-energy-source","tag-oil-prices","tag-renewable-energy","tag-solar-energy-singapore","tag-sustainability","tag-sustainable-solution"],"yoast_head":"\nRenewable Industry Outlook: May 2020 - Sunpro Energies<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renewable Industry Outlook: May 2020 - Sunpro Energies\" \/>\n<meta property=\"og:description\" content=\"Three facts about the renewable industry indicates the promising rise of solar energy today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/\" \/>\n<meta property=\"og:site_name\" content=\"Sunpro Energies\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/adoptsolar\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-19T03:58:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-20T02:38:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/staging.sunproenergies.com\/development\/wp-content\/uploads\/sunpro-Renewable-Industry-Outlook.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1080\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jason\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jason\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/\"},\"author\":{\"name\":\"Jason\",\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/#\/schema\/person\/94a6359d404f9bda0219f9396fdaeb56\"},\"headline\":\"Renewable Industry Outlook: May 2020\",\"datePublished\":\"2020-05-19T03:58:54+00:00\",\"dateModified\":\"2024-03-20T02:38:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/\"},\"wordCount\":625,\"publisher\":{\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/#organization\"},\"keywords\":[\"cleaner energy\",\"energy source\",\"oil prices\",\"renewable energy\",\"solar energy singapore\",\"sustainability\",\"sustainable solution\"],\"articleSection\":[\"Blog\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/\",\"url\":\"https:\/\/staging.sunproenergies.com\/development\/renewable-industry-outlook-may-2020\/\",\"name\":\"Renewable Industry Outlook: May 2020 - 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