Solar trading platform announced in Singapore: Senoko Energy introduces SolarShare 2.0

SINGAPORE: In a significant development for Singapore’s renewable energy sector, Senoko Energy has launched SolarShare 2.0, a first-of-its-kind, peer-to-peer, grid-scale solar energy trading platform in the nation. Building on the momentum of a successful pilot project from 2020, this initiative represents a transformative approach to green energy usage, significantly impacting how local businesses and households consume renewable resources.

Singapore, having achieved an impressive solar capacity of over 820 megawatt-peak (MWp) by the end of 2022, is already beyond the halfway point of its 2025 goal, which aims for 1.5 gigawatt-peak (GWp). With future ambitions even more bright, the country targets at least 2 GWp of solar installations by 2030. This effort would meet the annual electricity requirements of roughly 350,000 households, underlining a considerable advancement in Singapore’s sustainability efforts.

Amidst the country’s aggressive push for net-zero emissions by 2050, SolarShare 2.0 positions itself as a pivotal innovation rather than just a commercial venture. The platform extends beyond being a novel utility service, as it facilitates a participatory market for users to actively engage in buying and selling self-produced solar energy. This not only makes renewable energy more accessible but also invites a broader segment of society to contribute actively to the nation’s sustainable future.

Customers of Senoko Energy will have the opportunity to purchase energy directly from designated solar generators or tap into a community reservoir of surplus solar power. A standout feature of SolarShare 2.0 includes the capability for users to meticulously track the origin, pricing, and real-time usage of their solar energy, fostering informed energy consumption and carbon footprint reduction decisions.

“Through SolarShare 2.0, we are accelerating our decarbonisation efforts, exemplified by our collaboration with City Energy on hydrogen supply studies. This initiative is pivotal to our commitment to bolstering Singapore’s journey to net-zero emissions,” stated Mr. Eric Maka, President & CEO of Senoko Energy.

Echoing this sentiment, Mr James Chong, Senior Vice President, Commercial of Senoko Energy, highlighted the platform’s role in empowering consumers. “SolarShare 2.0 facilitates a green energy transition by allowing clean solar energy utilization sourced from our customer base. This interactive approach not only enhances efficiency but also places control of energy consumption into the hands of the consumers themselves.”

The platform also serves as an incentive for property owners to equip their buildings with solar panels, contributing excess energy to a communal grid, and reinforcing Singapore’s energy security.

In support of this initiative, Mr Steve Hoy, CEO of Enosi, emphasized the participatory aspect of the green energy movement. “SolarShare 2.0 transforms every user into a crucial player in the energy revolution. This intuitive platform encourages smart energy decisions, efficiency, and cost reduction, mirroring the positive impact we’ve observed among our Australian clientele.”

Set to launch on November 1, 2023, SolarShare 2.0 will be available exclusively to Senoko Energy’s clientele, with a minimal monthly subscription fee of S$5.40 (inclusive of GST). This groundbreaking initiative heralds a new chapter in Singapore’s renewable energy narrative, emphasizing community involvement and transparency in the journey towards a sustainable future.

For further details on SolarShare 2.0 or to join the movement, interested parties are encouraged to visit www.senokoenergy.com/solarshare.