UAE has always been setting examples on various fronts for the other countries around the globe. While others are struggling with constantly increasing demands for energy, the UAE is already gearing up for the next decade with a strategy to fulfil 15-20% of the total energy requirements of its top cities like Abu Dhabi and Dubai by 2030. This has given rise to new opportunities for energy solar investment in UAE.
Why Is UAE Preferring Solar Energy Over Black Gold?
The reason is again more economical than environmental. Being home to crude reserves, the UAE is among the largest oil exporters in the world. One may wonder why a crude giant that exports oil to the other countries would be so interested in solar energy. The reason is its domestic energy requirements. It requires an enormous amount of energy for running equipment like chillers and heat pump Dubai in various industries. It not only consumes a great amount of their crude resources but also makes a negative impact on the environment. These facts have worked as catalysts behind the country's plans of increasing investment in renewable energy options. It is very simple to understand. Even a 10% switch from conventional resources to renewable ones will help save around $2 billion annually. And if health and environmental benefits are taken into account, this number may reach up to $4 billion. So, you can see the economic impact solar energy may have over the UAE's economy. UAE's Clean Energy Strategy The UAE energy landscape is going through a transformation. After all, most industries require chillers and heat pump Dubai. And, the demand for energy is only going to increase in the coming years. At the same time, it has to be done in a way that it ensures the least carbon emission or completely eliminates it if possible. Furthermore, the energy prices always fluctuate which is an uncomfortable thing in itself. For instance, by 2050, Dubai plans to fulfill 75% of its total energy requirements through clean energy sources. The concept is termed as Green Economy and is definitely a brave step towards driving the world to a more sustainable development. What Will Be Its Impact? In order to understand this, we first have to see the impact made by the oil industry over the region. It won't only reduce carbon emissions but also create new opportunities. As per a study, if the UAE successfully hits its 2030 target, its energy sector alone will employ as many as 120,000 people.
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Al Awadhi Investments
Dubai - United Arab Emirates
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