February 29, 2024

We are creating some awesome events for you. Kindly bear with us.

Singapore’s National Environment Agency Grows Energy Efficiency Fund up to 20%

stock market graph on big lcd display closeup macro

Under the Energy Efficiency Fund (E2F), the National Environment Agency of Singapore has increased its grant for Energy Efficient Technologies up to 20% starting last month, the supported maximum was raised from 50% to 70% of qualifying expenditures per project.

This lowers the barrier for industrial enterprises, including SMEs, to adopt energy-efficient solutions that will help them save money on energy and cut their carbon emissions. The E2F grant application and pay-out process were simplified to save time and money for applicants.

The Energy Efficiency Technology Centre (EETC), which provides low-cost energy evaluations for SMEs, will also be developed in collaboration with the Singapore Institute of Technology (SIT). These policies will assist manufacturing SMEs in identifying and funding energy efficiency projects, as well as preparing for a low-carbon future.

The E2F was introduced in April 2017 and is administered by the NEA. It helps industrial organisations, including small and medium-sized businesses (SMEs), increase their energy efficiency. The E2F supports a variety of energy efficiency and low-carbon activities, including energy assessments and resource-efficient facility design. Currently, the E2F grant scheme co-funds up to 50% of such projects’ qualifying costs.

The E2F has financed 27 energy-efficient technological initiatives as of January 2022. LED lighting, high-efficiency air-conditioning systems, variable-speed air compressors, and boiler systems are among them. These projects have saved an estimated 1,600 tonnes of carbon each year, which is the equivalent of taking 500 cars off the road.

The amount of money given to projects will depend on how much carbon is saved. Higher financial funding is available for projects that deliver greater carbon reduction. From April 1, 2022, E2F applications accepted by NEA will be eligible for this higher support cap. The sector is encouraged to take advantage of the increased funding and invest in energy-efficient solutions as soon as possible.

NEA is also making it easier for businesses to use the E2F to save time and money. The procedure of measuring and verifying energy savings will be simplified, the same with the grant application and payment processes for conventional retrofit projects involving LED lights or small energy-efficient air conditioners.

Companies just getting started on their energy efficiency journeys should take advantage of the EETC’s affordable energy evaluations, which have been available since 2020 as a collaboration between the NEA and the Singapore Institute of Technology (SIT).

The energy assessments will assist businesses in obtaining an accurate view of their present energy profile, allowing them to make informed decisions about the energy efficiency improvements they may make.

Aside from energy assessments, the EETC is also working to grow Singapore’s workforce, including training a pipeline of engineering students in industrial energy efficiency and upskilling existing engineers or energy efficiency practitioners.

As Singapore transitions to a low-carbon economy, NEA will collaborate with SIT to build the next phase of the EETC, which will focus on developing human capacities in energy efficiency. The EETC will be improved by the establishment of a training and simulation centre, which will allow learners to study and practice their craft in a controlled and safe environment while simulating real-world settings.

The grant aims to encourage manufacturers, particularly small and medium-sized businesses, to invest in energy-efficient equipment or technology by co-funding up to 70% of eligible costs, such as external labour, equipment, or technology, as well as professional services.

The award is available to any Singapore-registered owners or operators of existing or planned manufacturing facilities with a group annual sales turnover of less than S$500 million. The project’s implementation facility must be located and operational in Singapore.

The project must include the installation and usage of energy-efficient equipment or technology at an industrial facility with a documented track record of energy savings. The project must result in energy savings that can be measured and verified.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

Send this to a friend