Five research teams have been awarded a total of $12 million in the first set of grants issued under the Energy Innovation Research Programme (EIRP). The awards were given out by the Energy Innovation Programme Office (EIPO), an inter-agency office responsible for developing and executing strategies and policies for the development of the energy sector, and which is led by the Economic Development Board (EDB) and the Energy Market Authority of Singapore.
The first set of grants were awarded to research teams focusing on increasing efficiency and innovation in photovoltaic technology, which enables the conversion of sunlight into electricity.
These grants were awarded amid declining costs of solar energy generation which have led to increasing adoption of such technology in Singapore and around the world, said EDB managing director Mr Yeoh Keat Chuan , who is also the co-executive director of EIPO in a statement on Wednesday.
"The funding will provide support for the clean energy industry in Singapore to strengthen its entire value chain comprising research, innovation and commercialization of new solutions for global markets," he added. "These would in turn create more good jobs and career options for Singaporeans." Three of the five research teams are from the National University of Singapore. The remaining two are from Nayang Technological University and IT solutions company, SiPro.