SINGAPORE: Singapore plans to launch standardised guidelines for renewable energy certificates, part of efforts to decarbonise its power sector and develop a regional grid, said Dr Tan See Leng, Second Minister for Trade and Industry on Tuesday (Oct 26).
The certificates, called RECs, are market-based instruments substantiating that electricity has been generated from renewable energy sources. One certificate represents that one megawatt-hour (MWh) of electricity was generated from a renewable energy source and delivered to the grid.
"These guidelines will help support renewable energy deployment in Singapore and in the region, supporting the development of a regional grid that taps different types of low carbon energy sources in the region," said Dr Tan at the Asian Clean Energy Summit.
The new standard will enhance the credibility and accountability of RECs, provide requirements for the verification of installations as well as guide renewable energy claims, he added.
Dr Tan, who is also Manpower Minister, said the guidelines were the first of their kind in Southeast Asia and define the types of renewable energy sources - such as solar, wind and biomass - that are eligible to generate RECs.
"The growth of a regional grid presents opportunities across the renewable energy value chain, and can leverage our current renewable energy ecosystem," said Dr Tan.