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Topic: Energy savings Entrepreneurship in Singapore The energy savings companies (ESCO) represent a new business model. They are providing services in diverse industry sectors in Singapore. ESCO is a services sector  business targeted to the availability of energy efficient technology and services includingenergy appraisals, financing, design, implementation and management of energy saving projects. Worldwide, ESCOs are expanding business in the wake of increasing level of CO2 emissions. Through energy efficient projects, this limited resource can be saved for future generations. Singapore’s energy saving companies’ horizon has grown vast withthe realization that investment made on the energy saving technologies would be a profitable deal in the long run. ESCOs provide a complete package of services startingfrom the appraisal to the project financing, guaranteeing the success of the project besides providing equipment maintenance and servicing. Only accredited ESCOs can provideenergy saving technology services; Energy Sustainability Unit (ESU), a division of theSchool of Design and Environment, National University of Singapore, runs anaccreditation programme to introduce quality and standard in the services of energysaving companieshttp://www.e2singapore.gov.sg/buildings/energy-services- providers.html
Overview of the Energy Sector in Singapore
Energy sector in Singapore involves electricity consumption, energy consumption,energy intensity, energy statistics, and energy efficiency policies. Electricity consumptionas per 2005 stats given in the National Energy Policy Report includes power generationsector consuming 51% fuel to generate electricity for different sectors namely industry,transport, buildings, household and others, as shown in the chart below.The Energy Market Authority governs the business of awarding licenses to privatecompanies to generate electricity. The graph below depicts the electricity consumptionand electricity consumption per capita from 1990 to 2007, as given by the Energy MarketAuthority and the Singapore Department of Statistics.
 
The graph shows ever-increasing level of consumption, culminating to 2.6 times from1990 to 2007 but consumption per capita went up at a slower pace of 1.8 times, showingno movement between 2005 to 2007.In the matter of energy consumption and energy intensity, stats of the two organizations-- the Energy Information Administration (EIA) and the International Energy Agency(IEA) are different while comparing Singapore’s energy intensity with America andFinland among other developed countries. Incidentally, energy intensity here means thelevel of energy ratio to be verified by the energy consumed per dollar of gross domestic product. The reason for difference in the stats of EIA -- 53.98 Mtoe and IEA – lower at30.67 Mtoe, as per 2008 major world Energy Statistics, is the difference of measuring theenergy consumption. EIA measures marine bunkers in the estimation; it is supply of oil tointernational voyages while passing. Singapore being the biggest marine bunkering centrein the world, energy consumption gets overly measured. IEA on the contrary doesn’t takeinto consideration supply of oil to passing ships while estimating energy consumptionand energy intensity. IEA stats are actual representation of Singapore energyconsumption.Singapore’s energy intensity actually decreased by 15% between 1990 and 2005 reason being optimum and efficient use of technology in electricity generation and other sectors.
 
.In future, Singapore has set a target of minimizing energy efficiency by 20% from theyear 2005 till 2020 and by 35% from 2005 levels by the year 2030. For this purpose, theEnergy Efficiency Programme Office (E2PO) is encouraging energy efficiency indifferent industries via the Energy Efficient Singapore (E2 Singapore) policies and steps(Eugene,
 
May 14, 2009).
 Analysis – industry & PESTAL
Singapore is a model city for sustainable growth and clean and healthy environment.Electricity market is highly competitive in Singapore because of the government’s liberal policies. Energy has been an important resource. Its security has emerged a big challenge.Undisrupted supply of oil and gas are conditions, as security of these resources beingvulnerable is a big issue. Diversification of energy resources can be a way out, whichrequires developed markets, developed infrastructure and global assistance. New energytechnologies are also being used in a big way to save energy. Another major challenge isthe environment affects of energy use. Although it is a global issue that demands our attention so that CO2 emissions are below the limit. The ideal strategy is holistic energy policy and strong economy to fight high energy prices and environment issues. Thereexist many global opportunities in clean energy like solar power, fuel cells, bio-fuels, andin energy efficiency (Kiang, 2007).
SWOT Analysis of EnergyStrengths
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Competitive energy market for sustainable growth -- Electricity market is highlycompetitive in Singapore.
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