Here’s 5 reason’s why renewable energy will be added to the new energy mix!
1. Oil prices are down and when that happens, energy companies often look for alternative sources of energy. That’s a good thing. The smartest thing we can do with oil and gas is use it to bridge the way to a new energy future.
2. Renewable energy is sustainable and self sufficient and we want and need more of it. Economic viability, investment and great minds are required to lead the way into the new energy future.
3. Renewable energy offers independence and self sufficiency for companies, nations and supports global market sales. This is a trend for the future and it supports responsible and sustainable governance for all involved.
4. Renewable energy is planet conscious and good for the environment. It’s the solution we have been waiting for that mitigates the social and planetary risks that affect us all.
5. Renewables will become more economical than non-renewables. There is a tipping point ahead. Those who are proactive will be world leaders in new energy and be drivers of the global economy.
World leaders in renewables
The Middle East and North Africa (MENA) regions see Renewable Energy as the way forward. It is expected that MENA will see USD 35 billion in annual renewable energy investment through 2020. Can you afford “not” to be there? Is it time to look at expanding and diversifying?
The World Future Energy Summit this week, in Abu Dhabi, UAE, had a loud and clear message that the governments, banks and landlords are urged to collaborate and adopt solar rooftops as a primary sustainable solution to energy needs ahead. It makes perfect sense really. Put solar panels on all the roofs and let the sun do what it does day in day out – shine!
The world can learn a lot for the UAE in terms of renewable goals and objectives. They were the first in the world to create a zero free carbon city called Masdar, in Khalifa city, UAE.
Forward and smart thinking they won the opportunity to house IRENA in their country. IRENA being the International Renewable Energy Agency that is now strategically positioned in Abu Dhabi, and is home to the most innovative forward thinkers in renewables, in the world.
Renewable investment funds are flowing
By 2020, MENA is set to see renewable energy investment of USD 35 billion per year, according to the International Renewable Energy Authority (IRENA), with increasingly lower-cost solar photovoltaic modules helping countries to diversify their energy mix.
With the insurgence of solar energy and it’s varied applications, the GCC’s solar capacity is expected to reach 10 gigawatts, representing a market opportunity of at least USD 10 billion to 2020, with solar rooftops in the UAE reaching 2.5 gigawatts and a USD 3 billion opportunity, according to a Frost & Sullivan report.
Supporting solar rooftop innovation is Dubai Water and Electricity Authority (DEWA), whose Shams Dubai initiative connects solar rooftops to DEWA’s power grid, in support of Dubai Plan 2021 and the Smart Dubai initiative, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
With the UAE aiming for 10 per cent of power generated by renewables by 2030, according to IRENA, DEWA is furthering the UAE’s solar sector through the Mohammed bin Rashid Al Maktoum Solar Park, the world’s largest single-site solar project at 5 GW by 2030.
“Dubai Clean Energy Strategy aims to provide 7 percent of Dubai’s energy from clean energy sources by 2020, 25 percent by 2030 and 75 percent by 2050. The shift towards using clean and renewable energy sources has many benefits for the environment, economy, and natural resources. For example, the Mohammed bin Rashid Al Maktoum Solar Park will help achieve a reduction of over 6.5 million tonnes of carbon emissions, and support the green initiatives and programmes implemented by the Government of Dubai to reduce carbon emissions,” said HE Saeed Mohammed Al Tayer, Managing Director and CEO, DEWA.
“DEWA also launched Shams Dubai to install PV panels on rooftops of buildings and connect them to the grid. The surplus electricity is exported to DEWA’s grid,” added HE Saeed Mohammed Al Tayer.
The World Future Energy Summit
It happens each year in January in Abu Dhabi. It’s fascinating and progressive. It’s the place where ideas turn into reality and that reality paves the way for our future. On the cusp of innovation and advancement, I personally can’t think of a more exciting place to be. I was lucky enough to attend the World Future Energy Summit, three times when I lived in Abu Dhabi and studied the inner workings of Masdar and the aggressive sustainable new energy plan for the region. This years summit showcased DEWA’s plans to make 30,000 buildings energy efficient by 2030, install 1 million smart metres by 2020, and deploy electric vehicle charging stations throughout Dubai with its Green Charger programme.
Supporting new business opportunities and innovation in the region’s solar market is the WFES Solar Expo, where more than 150 solar exhibitors will interact with innovators, project developers, and buyers to experience the latest solar innovations, learn about solar trends, and network with solar experts at the WFES conference.
WFES Solar Expo included key players such as Abdul Latif Jameel, ADC Energy Systems, ALEC Energy, AMANA, EFG Hermes, Renewable Energy Company (REC), SkyPower, SolarWorld, Suntech Power, and Yingli Solar.
“In the Middle East and North Africa, solar rooftops have gone from a niche environmental market to a game-changer with high potential for homes, offices, or mega-projects, and can pay for themselves after only four years,” said Dr Raed Bkayrat, Director – Research, Middle East Solar Industry Association, and Vice President of Business Development – Middle East, First Solar.
Masdar City: The first zero carbon free city in the world
Masdar is Abu Dhabi’s renewable energy company advancing the development, commercialization and deployment of clean energy technologies and solutions. The company serves as a link between today’s fossil fuel economy and the energy economy of the future. Backed by the Mubadala Development Company PJSC, the strategic investment company of the government of Abu Dhabi, Masdar is dedicated to the Emirate’s long-term vision for the future of energy.
About World Future Energy Summit
The World Future Energy Summit (WFES) is the world’s most influential event dedicated to advancing future energy, energy efficiency, and clean technology. Held each year at the Abu Dhabi National Exhibition Centre, WFES is hosted by Masdar Institute. The WFES 2015 exhibition and conference saw 650 companies from 40 countries, and more than 32,000 attendees from 170 countries participate.
About Abu Dhabi Sustainability Week
Abu Dhabi Sustainability Week (ADSW) is the ground-breaking global forum that unites thought leaders, policy makers and investors to address the challenges of renewable energy and sustainable development. With the global population set to reach nine billion by 2050, ADSW promotes collaborative thinking and development to accelerate the sustainable solutions needed to support rapid economic and population growth. An Abu Dhabi government initiative, ADSW is the largest gathering on sustainability in the Middle East and a significant forum in stimulating the international dialogue and action.
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Tina Olivero is the Publisher and Content Strategist for TheOGM.com and The OGM magazine. She resides in Newfoundland, Canada and has lived in energy cities around the globe. With a passion for progress and a sustainable future she combines energy and culture into a conversation that architects new possibilities. To tell your story with The OGM you can SUBMIT YOUR STORY at our free open source publishing platform for energy readers and writers. Enjoy! www.theogm.com/u-publish-it
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