SINGAPORE, Oct. 29 (Xinhua) -- Singapore's Minister for Trade and Industry Chan Chun Sing said on Tuesday that the city-state would guide and transform its energy supply over the next 50 years with the four switches of natural gas, solar, regional power grids and low-carbon alternatives.
The minister made the remarks at the opening of the Singapore International Energy Week 2019. He said that the biggest challenge for Singapore in the next 50 years would be achieving a future of cleaner, affordable and reliable energy.
He said that the four switches would be the answer to address the energy challenge on the supply side.
The first switch is about diversification and more efficient power from natural gas. Chan said that natural gas would continue to be the dominant fuel for Singapore in the near future. Thus, the city-state would continue to diversify its gas sources to improve energy security, as well as find innovative ways to generate power from nature gas more efficiently and reduce emissions even further.
The second switch is about accelerating adoption of solar energy. The minister said that solar was the most viable renewable energy option for Singapore, and the country was on track to reach the solar target of 350 megawatt peak (MWp) by 2020. It aims to deploy at least two gigawatt peak (GWp) of solar by 2030, which will make up more than ten percent of Singapore's peak daily electricity demand at present.
The third switch is about tapping on regional power grids. Singapore would explore ways to tap on regional power grids to access energy that is cost-competitive, said the minister.
The fourth switch is about investing in emerging low-carbon alternative. Chan said that Singapore would look into emerging low-carbon solutions which could lower the country's carbon footprint, such as carbon capture, utilization or storage technologies and hydrogen.
On the demand side, the minister said that improving energy efficiency would be a key driver for addressing the energy challenge.
"The more efficiently we use it, the greater the energy savings and emissions reduction," he said.
The Singapore International Energy Week (SIEW), organized by the Singapore Energy Market Authority, is an annual platform for energy professionals, policymakers and commentators to share best practices and solutions within the global energy space. The theme for this year's event is "Accelerating Energy Transformation", which calls on global energy stakeholders to collaborate and accelerate efforts towards a more sustainable energy future.