Enhanced Industry Energy Efficiency Package for the Adoption of Energy Efficiency Technologies
ENHANCED INDUSTRY ENERGY EFFICIENCY PACKAGE FOR THE ADOPTION OF ENERGY EFFICIENCY TECHNOLOGIES
The Enhanced Industry Energy Efficiency Package was announced by Minister for Trade and Industry Chan Chun Sing at the official opening of the Singapore International Energy Week (SIEW)on 30 October 2018.
The Energy Market Authority (EMA), Singapore Economic Development Board (EDB), and the National Environment Agency (NEA) will each be rolling out initiatives to give stronger support to companies in their drive to become more energy efficient and reduce carbon emissions. In an increasingly carbon-constrained future, improving energy efficiency will not only help companies to reduce costs, it will also improve their competitiveness both locally and internationally. At the same time, our companies will also stand to benefit from smaller carbon emissions and hence lower carbon tax liability. Singapore will continue to play our part as a responsible member of the international community in addressing climate change, and develop Singapore as a liveable and sustainable city for the future.
For the power sector, EMA has launched a Genco Energy Efficiency Grant Call to co-fund up to 50 per cent of energy efficiency projects by power generation companies over the next 5 years. For the manufacturing sector, EDB and NEA are enhancing grants to better support industrial facilities to be more energy efficient and improve competitiveness. The funding support for the adoption of energy efficient technologies under EDB’s Resource Efficiency Grant for Energy (REG(E)) and NEA’s Energy Efficiency Fund (E2F) will be increased from the existing cap of 30 per cent, to 50 per cent of the qualifying costs Qualifying costs refer to manpower, equipment or technology, and professional services cost1. The grants companies receive will correspond to the abatement achieved, up to the cap. Companies with projects that can achieve significant abatement, those that have made early efforts to be energy efficient, and SMEs may receive higher grant support.
1 Qualifying costs refer to manpower, equipment or technology, and professional services cost.
Source: Economic Development Board