Energy policy in Singapore (Part 1 - renewable energy and decarbonization)

• Main Author: Pan, Minghuang
• Other Authors: Foo Yi Shyh, Eddy
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2024
• Subjects: Engineering; PLEXOS; Renewable energy; Renewables; Green plan; Singapore net-zero emission 2050; Global warming; Green energy; Energy market simulation
• Online Access: https://hdl.handle.net/10356/177078
• Institution: Nanyang Technological University

The topic on renewable integration is highly researched worldwide. Integration of renewable energy source into existing energy sector are viewed as potential solution to address the pressing issue of climate change, offering opportunities to reduce emission levels in the power sector. The increasing adoption of renewable energy represents a growing trend aimed at fostering a sustainable future for all. The purpose of this Final Year Project is to develop a 30 years energy policy scenario for Singapore, emphasising on generation mix and reducing carbon footprints in Singapore through integration of renewable energy sources in order to attain the main goal of net zero emission by 2050. This is done so by exploring the respective renewable and clean energy sources that Singapore could potentially utilise and running simulations using PLEXOS with these energy sources as build candidates. The energy demand for the next 30 years will be forecasted using existing information on energy demand obtained from public sources. The results obtained from the simulation would then be analysed and conclusion will be drawn. These conclusion will assist Singapore in terms of long-term planning and decision making for the energy sector and progress towards net zero emission by 2050. In addition, PLEXOS can be used to study the effects of various factors such as build cost that could potentially affect how the generation mix in 2050 would look like. Through detailed simulation and modelling, PLEXOS enables a comprehensive examination on each of these factors.