Indonesia and Singapore just struck a deal that could majorly boost both countries' economies, according to Reuters.
In early June, they agreed to collaborate on carbon-capture projects and trade low-carbon electricity. This commitment to renewable energy aligns with an earlier agreement, in which Indonesia agreed to export solar panels to Singapore.
This most recent deal lays the groundwork for a long-term collaboration on future renewable energy projects. At the time of writing, the nations are planning to develop sustainable industrial sites.
Bahlil Lahadalia, Indonesia's energy minister, announced that he expects the deal to rake in over $10 billion in investments from solar panel manufacturing, per Reuters.
Renewable energy — energy from sources such as solar, wind, and bioenergy — is outpacing older systems in critical markets. It provided a record-high 32% of the world's power last year, and it's only getting bigger. According to the U.S. Department of Energy, the global market for renewable energy is projected to be worth $23 trillion within the next five years.
This has led to exponential job growth across the world. A report from the International Labour Organization stated that about 2 million renewable energy jobs were created from 2022 to 2023 alone.
Get a new phone with unlimited 5G and zero activation fees — for just $40 a month Metro by T-Mobile gives you smart value, whether you need a new phone or are just looking for a better plan. This holiday season, get a free 5G phone with no activation fees, for just $40/month. That includes unlimited talk and text, already bundled with taxes and fees. Or, keep your existing phone and number and get unlimited 5G for just $25/month. Either way, enjoy T-Mobile’s Scam Shield technology at no extra cost. Plus, you can even level up to an iPhone 16e this month. Just bring your number and ID and sign up for $50 with the auto pay plan. Learn more → |
The switch to renewable energy also benefits the planet. Unlike fossil fuels, which pollute the atmosphere and harm people's health, renewable energy sources produce no pollution (and can even reduce it in some cases).
While the road ahead may be long, countries such as Singapore and Indonesia are setting an important precedent. In a press release, Dr. Tan See Lang, a leader in the Energy, Science, and Technology faction of Singapore's Ministry of Trade and Industry, said: "These win-win partnerships will support both countries in achieving a resilient and lowcarbon energy future, and generate new investments into green activities, while we do our part for global climate action."
|
Which of these factors would most effectively convince you to support nuclear energy projects in your area? Click your choice to see results and speak your mind. |
Lower energy bills 💸 
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
