Pestle for Singapore

PESTLE Analysis

Overall, there are about 35 government firms who fund and provide incentives for use and research of green technology. Countries, especially Singapore which is called as “Garden City” is actually promoting the use of green technology to converse the nation’s natural resources and also the environment. Besides, it also aims to ensure sustainability in the country’s development by implanting a concept that it is a personal duty for the citizens to contribute in the environmental protection. The Singapore Green Plan (GSP) is Singapore’s environmental blueprint for the future, it was first released in 1992 by the Ministry of the Environment and has been updated yearly to enhance the green efforts. Moreover, the government has initialled several funding and incentives schemes related to energy efficiency, clean energy, environmental management system, water and environmental technologies, such as Energy Efficiency Improvement Assistance Scheme (EASe) and Solar Capability Scheme (SCS), which will balance the capital costs for installing solar technology in Singapore.

From the research, a domestic household consumes about 1.5 to 3kW, and solar panels can roughly reduce 50% of the domestic energy requirement. Currently most of the electricity using in the world is produced by the natural gas, coal and burning of oil, which means an increase in the selling price of the natural gas, coal or oil would directly affect the energy bills of a household. As we continue to rely on limited non-renewable fuels to provide energy, ultimately the price of non-renewable fuels will increase, and also increasing the average energy household bill. This will result in a growth of the usage of renewable fuels, and over time the capital cost to setup will decrease due to the improvements in technology, increase in efficiency and competition. An alternative energy such as solar changing station which is also a long lasting product will help in reducing the costs. The company is also looking forward to expand the field of solar technology and also lead to a clean fuel based Singapore.

Due to unsustainable environment, some important questions have been raised up such as the melting of polar ice caps due to global warming and extinction of species of various animals which are greatly related to human behaviour towards the environment things. The company is aiming to raise awareness about renewable/clean fuel in the Singapore society. It is believed that the total of electricity created would be exactly the same as supporting the energy consumption on planet earth if all of the sunlight reaching planet each day was converted into electricity. So, the company are being more socially responsible and look to integrate as much green energy as possible. One of the ways could be held up various publicity campaigns on saving energy and recycle waste in order to make the public a lot more conscious about their behaviour towards the environment. By doing so, the awareness and usage of green energy among the people will be on a rise.