SINGAPORE - The Government has set aside $17 million for a SPRING Singapore initiative which will help SMEs assess, monitor and improve their energy performance.
The Sustainable Energy Association of Singapore (SEAS) will lead the initiative with support from SPRING, National Environment Agency (NEA) and Infocomm Development Authority of Singapore (IDA). The goal is to help 300 SMEs achieve at least 10 per cent savings in energy costs over the next three years.
At the opening of the Standards eXchange on Resource Efficiency, Mr S Iswaran, Minister, Prime Minister's Office and Second Minister for Home Affairs and Trade & Industry, noted that energy costs were on average 13 per cent of operating costs across manufacturing SMEs.
The $17 million SME Energy Efficiency Initiative set aside for energy efficiency covers Energy Audit, Energy Monitoring System, Energy Efficiency Project Implementation and Energy Efficiency Thought Leadership.
SMEs may use SPRING's Innovation and Capability Voucher (ICV) to engage one of 11 prequalified Energy Service Companies (ESCOs) to conduct an audit of their current energy usage and identify areas to improve their energy efficiency. For energy monitoring, funding is also available to install systems for long-term continuous self-monitoring of energy consumption.
In addition, further funding from SPRING is available for SMEs embarking on larger energy efficiency projects that involve optimising processes, redesigning workflows, or installing of energy-efficient equipment or technologies.
There is also a pilot training programme developed with McKinsey Capability Center: Green Campus, to drive the sustainability of energy efficiency initiatives in the organisation.
The initiative taps on existing funding schemes administered by SPRING and IDA.
At the event Mr. Iswaran also announced that the ISO will be setting up a regional office in Singapore in September this year, for an initial two-year pilot. This will be the first regional office for ISO outside Geneva, where it is headquartered.
SPRING Singapore has also been appointed as the secretariat for the Pacific Area Standards Congress (PASC) from 2014 to 2016.