A recent survey by Schneider Electric has revealed that over half of Singaporean companies are planning to invest in clean energy sources, with solar power leading the charge. Conducted in January 2025, the survey involved more than 500 senior business leaders, 57% of whom expressed intentions to invest in solar energy by 2030. Other renewable energy investments include hydropower (40%), bioenergy (29%), mobile nuclear (26%), and wind energy (16%).
The drive towards renewable energy is largely motivated by the need to reduce electricity-related emissions, with six in 10 leaders acknowledging that over half of their Scope 1 and 2 emissions stem from electricity consumption. The survey highlighted that 82% of business leaders anticipate a 10% increase in electricity use this year compared to 2020, primarily due to digital technologies and AI.
Yoon Young Kim, Cluster President Singapore and Brunei at Schneider Electric, emphasised the importance of decarbonisation, stating, “Digital technologies can play an important role in energy management and decarbonisation. Many of these technologies are mature, proven and economically viable for businesses.”
Despite the enthusiasm for renewable energy, challenges remain. High costs and the need for technology upgrades were cited as significant barriers, with only 30% of companies confident in meeting their 2025 renewable energy targets. Nevertheless, the survey indicates a growing acceptance of energy management systems, with 50% of businesses already utilising them and plans to invest in battery storage and smart grids.
The findings were presented at Schneider Electric’s Innovation Day 2025, underscoring the company’s commitment to supporting Singapore’s transition to a low-carbon future.
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