Renewables eats up only 5% of its power mix.
Singapore's renewables are attracting interest, analysts from BMI Research said.
According to a report, the scale of Singapore's renewables power segment continues to be small, accounting for less than 5% of the power generation mix.
Meanwhile, the Economic Development Board (EDB) and Singapore Power announced in April 2015 that it would set aside $30m over the following five years in an attempt to develop solutions, with a particular focus on green energy.
There has also been increased emphasis on developing renewable sources of power in recent years. However, the scope of projects will be limited by Singapore's geography - the city-state's small land area and high population density limit the potential for onshore wind, geothermal and certain solar power projects.
"Renewables development so far has therefore been predominantly in the form of waste-to-energy and biomass facilities, but we believe there is potential for steady growth in solar power," BMI Research said.
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