The lesson began with a quote about how oil would run out in 9 years if every person in the world used the amount of fossil fuels that each Singaporean or American use. It's a stark reminder that we could run out of oil sooner than we think, given the rising middle class in developing countries who are using more energy. But estimates of how soon fossil fuels will run out have taken increasing consumption into account, and currently stand at 30-40 years.
Nevertheless, the fact remains that fossil fuels are finite and it is necessary to find alternative energy sources. This led to an interesting discussion on the extent to which the world will depend on renewable energy. There general consensus in class was that it could meet more than 50% of the world's needs by 2030. I think this is a realistic projection given that energy security in crucial to every country's economy.
I recently took part in the Rodyk Challenge, and the topic was the role that the law can play in securing Singapore's energy future. My group's proposal was to introduce feed-in tariffs in Singapore, so as to increase the proportion of electricity generated from solar energy and reduce our reliance on other countries. Our proposed statute was modelled on that of Germany, which has very successfully implemented feed-in tariffs across a wide range of energy sources, including solar, geothermal, hydro etc. In the process of doing research, I discovered that the EU's renewable energy target is 20% by 2020. Germany is one step ahead, and is targeting to have 100% of its electricity generated from renewable sources.
Singapore has invested heavily in developing a clean energy industry and has successfully attracted leading companies to set up shop here, such as Conergy and Solar Phoenix (solar), as well as Vestas (wind). A lot of money has been pumped into R&D, with various research institutes being set up. Other countries in the region as well as China have been doing the same, which is an important first step in the shift to renewable energy.
While we explore alternatives, it is important to increase energy efficiency, so that our existing supplies of fossil fuels can last longer or at least in time for us to make the switch to renewables. To that end, many energy-saving devices exist, though I think that to be effective, there must be a change in people's attitudes and practices.
