Strategic marketing options for energy service companies in Singapore Essay

Strategic marketing options for energy service companies in Singapore - Essay Example Electricity is the lifeline of all business and individual activities and ESCOs help in finding the means and ways of using minimum of this input to generate maximum revenue. Singapore has high potential for renewable energy (RE) and energy efficiency but the need of the hour is to prepare the road for future needs when demand will surpass the supply. No country can depend on supplies of diesel and petrol, as these resources are limited and renewable energy resources are the only alternative to keep the world move fast on the road to economic growth. In Singapore, the three reasons to opt for renewable energy and energy efficiency are environment constraints, dwindling coal, natural gas and oil prices, and incapacity to generate thermal or nuclear power for industry use. Solar energy has huge potential but there are challenges too. Solar capacity and demand both need to be increased, as 1 MW= 5 acres of land. Depending on solar energy is an issue, as we cannot depend totally on renewable; coal, nuclear, and natural gas is must to keep the lights glow but the good thing is that solar energy can be stored too (Gabriel, R. W. Beck Inc. Electric Cities Confe rence). Singapore is collectively marching ahead to make advances in the renewable energy with regional and international bodies. According to the ASEAN Plan of Action for Energy Cooperation (APAEC) for 2004-2009, one of its objectives has been to formulate and maintain continuous progress on the front of renewable energy and relevant technologies. Different strategies of the RE programme include formulating a policy framework the action for which needs to set renewable energy targets, capacity building and effective communication among the stakeholders. Information network should be developed to promote RE. Bio-mass based and bio-fuels development demand heavy investment in technological research and development. According to Khew (2007) Chairman, Sustainable Energy