The rising awareness of global warming, climate change, and fossil fuel depletion has increased consumer, regulatory and industry interest in clean technology products and services. Home to more than half of the world’s population, Asia is expecting to see a growing demand for more of these eco-friendly solutions. Thus the clean technology industry is identified as an area of strategic economic growth. And Singapore is strategically positioning itself to serve this untapped market. The country aims to become a global clean energy hub, leading the way in the development and manufacture of eco-friendly products and solutions.
Given Singapore’s strategic location in the tropical sunbelt, the government is pushing for the development of solar energy as a key clean energy source. Besides solar, resources are also being channelled towards wind energy, electric mobility, smart grids, biomass, fuel cells, energy efficiency, and carbon services. These sustainable, clean-technologies are key in propelling the nation’s progress.
This promising new industry is expected to contribute over S$3 billion to Singapore’s gross domestic product, and create 18,000 jobs by 2015. To grow the clean technology industry, the government has mapped out a blueprint comprising five key pillars: R&D, manpower development, grooming of Singapore-based enterprises, branding of the industry, and nurturing a vibrant industry eco-system.
Fast Facts
- Singapore’s strategic location, right on the equator belt, gave it a major advantage in the race to become a key global player for solar energy development.
- CleanTech Park is Singapore’s first eco-business park. Spanning 50ha and costing $52 million to build, it is targeted for completion in 2030.
- The clean technology industry is expected to contribute S$3 billion to Singapore's GDP and create 18,000 jobs by 2015.