Singapore’s solar photovoltaic capacity is expected to rise sharply over the next decade, reaching about 5.3 GW by 2035, up from nearly 1.6 GW in 2024, according to forecasts from GlobalData. The expansion highlights the growing role of solar energy as Singapore’s most viable domestic renewable option within a power system constrained by limited land availability and the absence of indigenous energy resources.
As a net energy importer, Singapore’s electricity strategy is shaped by the government’s Four Switches framework, which integrates natural gas, solar power, regional electricity imports, and emerging low-carbon technologies. Rising electricity demand from cooling, electrification, and digital infrastructure is further accelerating the need for a diversified and resilient energy mix.
GlobalData’s report on Singapore’s power market projects that solar PV capacity will grow at a compound annual growth rate of around 11.7 percent between 2024 and 2035. This growth is supported by continued deployment across rooftop, floating, and utility-scale projects, along with strong policy backing for solar integration in urban and industrial settings.
Solar expansion is being driven by initiatives under the Singapore Green Plan 2030, which targets at least 2 GW of solar capacity by 2030. Programs such as SolarNova, the Simplified Credit Treatment scheme, and the Enhanced Central Intermediary Scheme are improving project viability, enabling excess power monetization, and encouraging wider adoption of distributed solar systems across residential, commercial, and industrial users.
According to GlobalData, Singapore’s clean energy approach reflects the realities of a dense and import-dependent power system. Solar PV is being scaled within physical limits through targeted policies and innovative urban deployment models, while parallel investments in energy storage, modernized gas infrastructure, and regional power connections help maintain system reliability.
Despite the rapid growth in solar capacity, natural gas will continue to dominate Singapore’s power generation mix, accounting for roughly 94 to 95 percent of electricity output. Gas-fired plants provide the dispatchable capacity and flexibility required to balance variable renewable generation. Gas-based capacity is projected to increase from about 10.4 GW in 2024 to nearly 14.8 GW by 2035, supported by diversified LNG imports, strategic storage, and hydrogen-ready upgrades.
Beyond domestic generation, Singapore is also pursuing regional diversification through cross-border low-carbon electricity imports, with plans to bring in up to 6 GW by 2035. At the same time, the National Hydrogen Strategy positions hydrogen as a longer-term decarbonization pathway, with pilot projects and hydrogen-compatible gas plants preserving options beyond 2035.
Singapore’s solar power market is led by a mix of domestic energy majors and international renewable developers that are actively investing across rooftop, floating, and utility-scale projects to support the country’s clean energy targets.
Sembcorp Industries is one of the largest players in Singapore’s solar sector. Its renewable energy arm has made investments in large-scale ground-mounted, rooftop, and floating solar projects. One of its most significant recent investments includes the development and expansion of large solar installations on Jurong Island, covering both industrial rooftops and ground-mounted systems.
Sembcorp has also been a pioneer in floating solar, with major projects on reservoirs such as Tengeh, Kranji, and Pandan, reflecting its focus on overcoming land constraints through innovative deployment models. These investments align with Sembcorp’s broader strategy to grow its renewables portfolio while supporting Singapore’s domestic solar capacity goals.
EDP Renewables APAC, which expanded its presence in Singapore following the acquisition of Sunseap Group, is another leading solar developer in the country. The company has been highly active under the government-led SolarNova programme, securing large public-sector tenders to install solar systems across public housing blocks and government facilities. Recent investments have focused on scaling distributed rooftop solar capacity, as well as supplying clean electricity to commercial and industrial customers through long-term power purchase agreements. This approach positions EDP Renewables as a key contributor to both public infrastructure decarbonization and private-sector sustainability initiatives.
Keppel Renewable Energy and ENGIE Southeast Asia are also strengthening their solar footprints in Singapore through targeted investments. Keppel has focused on integrating rooftop solar across commercial and industrial properties, often bundling solar with energy management and digital solutions. ENGIE, meanwhile, has invested in onsite solar systems for data centers, business parks, and industrial clients, supporting corporate decarbonization while expanding its distributed energy portfolio in Singapore.
Independent power producers such as Vena Energy and Peak Energy are increasingly active in the commercial and industrial solar segment. Their recent investments include rooftop solar acquisitions and virtual power purchase agreements with multinational companies operating in Singapore. These deals highlight growing corporate demand for clean electricity and demonstrate how private developers are complementing government-led solar deployment efforts.
SP Group, primarily known as Singapore’s electricity and gas utility, plays an enabling role in the solar market through investments in rooftop solar infrastructure in partnership with real estate owners and industrial park operators. Its recent projects focus on aggregating rooftop solar capacity across multiple sites and ensuring smooth grid integration, which is critical as distributed solar penetration increases.
Overall, GlobalData notes that Singapore’s power sector is following a pragmatic transition path. Solar PV remains the cornerstone of domestic renewable growth, while natural gas, regional power imports, and hydrogen readiness collectively underpin energy security and system resilience through 2035.
BABURAJAN KIZHAKEDATH