The 4th Singapore International Energy Week (SIEW) is under way, incorporating Clean Energy Expo Asia, which kicked off with the Second Minister for Trade and Industry of Singapore referring to the nation “as a living laboratory for renewable energy”.
Several Energy Matters representatives are attending the event, as is Professor Ray Wills, Chief Executive of the Sustainable Energy Association of Australia (SEA).
Professor Wills reports that Singapore has identified solar and biofuels as most promising renewable energy sources, but only a few pilot projects have been rolled out to date.
REN21 launched its latest Renewables Global Status Report at Clean Energy Expo Asia, which shows renewable energy accounted for approximately 50 percent of the estimated 194 gigawatts (GW) of new electric generated capacity added globally during 2010. By early 2011, renewables comprised approximately 25 percent of global power capacity from all sources.
The number of countries with some form of renewables support and/or policy in early 2011 is now more than double than it was in early 2005 according to the report.
By the end of last year, developing nations collectively had over half the world’s renewable power capacity and renewables accounted for about 26% of China’s total installed electric capacity. The nation was the top installer of wind turbines and solar thermal systems as well as the leading hydropower producer; the latter being a somewhat sensitive point given environmental issues surrounding some of its hydroelectric operations.
“REN21’s Renewables Global Status Report highlights that global sentiment for renewables continues to flourish, more and more commitments are being made to support change in markets to make use of renewable energy,” said Professor Wills.
Professor Wills also joined the CNBC’s Harvard Business Review Energy Opportunities executive brainstorm in Singapore. The topic under discussion was a scenario set in 2035 and looking back to this year; posing a question of how emissions cuts of 25% from 2011 were achieved. Key responses included removing fossil fuel subsidies and a price on carbon. The broadcast of the event will occur on CNBC later this month.
