MENA to save up to USD1bn a year with smart grids

INNOVATIONS

|
Image: By BiztechAfrica
MENA to save up to USD1bn a year with smart grids

The Middle East and North Africa (MENA) region is in the early stages of its smart grid development but stands to realise strong benefits, including minimum savings of USD300 million to USD1 billion per year for Gulf countries. 

This is according to a new report by Northeast Group, LLC.

The report says smart grid is an opportunity for MENA countries to incorporate their vast solar and renewable resources, manage growing demand, reduce carbon emissions and cut down on electricity system losses. 

It projects that the smart metering market will reach 16.1 million units by 2022 with cumulative capital expenditure of USD3.9 billion. The majority of near-term activity will be in the Gulf region, where Saudi Arabia and the United Arab Emirates are currently leading the way. By 2022, 86% of homes and businesses in the Gulf countries will have smart meters.  Other MENA countries outside the Gulf will develop at a slower pace - due largely to political risk - but represent larger market sizes and also stand to realize strong benefits from smart grid technologies. 

The report notes that governments of several MENA countries are experimenting with a number of policies to help curb domestic consumption of fossil fuels, including feed-in tariffs for renewables, conservation outreach campaigns, and electricity pricing mechanisms that more closely reflect the costs of electric service (regional electricity prices are currently among the lowest in the world).  Several high profile transmission interconnection initiatives are also helping these countries to use their systems more efficiently.

"Smart grid regulatory frameworks are in the early stages of development but progress is being made," Northeast Group added.

"Governments are realising they must incentivise energy conservation and are beginning to invest in the technologies necessary to make their grids smarter," the report says.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE INNOVATIONS NEWS

Tigo extends deadline for applications for ‘digital change-makers’ competition

Telecom operator Tigo Ghana, in partnership with Reach for Change, has announced a one week extension for its ‘Digital Change-makers’ competition. Read More

Literacy Bridge, UNICEF, ARM Unite on Talking Books project in Ghana

Humanitarian technology company Literacy Bridge has announced a new multi-year partnership with UNICEF and ARM to deliver health education to 40,000 vulnerable people in Ghana, using Talking Book mobile devices. Read More

New sustainable housing from Innovation Hub

Botswana Innovation Hub has unveiled a prototype Sustainable Housing unit that has the potential to significantly improve the lives of people through its rapid deployment, solar renewable lighting, rain water catchment and use of local materials as value additions. Read More

Microsoft drives local innovation in North Africa

At this year’s Global Entrepreneurship Summit (GES) in Morocco, Microsoft has signed a new strategic alliance with Tunisian startup Saphon Energy and introduced the first round of 50 women entrepreneurs to go through its Cloud Startup Academy. Read More

Philips introduces innovations in “Maisha ni Mwelekeo” roadshow

Philips is showcasing new solar powered home lighting systems and a unique fan driven cook stove (Jiko) for rural and semi-rural areas during a roadshow in Kenya. Read More

Gabon Cybercity wins foreign investors

Cybercity, a multi-billion ICT project located in the Mandji Island near the oil-rich city of Port-Gentil in Gabon, is reported to be becoming one of Central Africa’s top targets for foreign investors. Read More

AfricaCom Awards 2014 winners announced

The winners of the digital industry’s most anticipated Awards were announced at AfricaCom in South Africa last night. Read More

GHS60, 000 seed fund for Ghanaian digital entrepreneurs

Tigo Digital Change-makers has begun the search for social entrepreneurs with digital solutions to improve the lives of children and society.   Read More

MTN prepares to use its world-class network and technology to break the land speed record

MTN has once again commenced a series of test runs of its state of the art network built to support a land speed record attempt by the Bloodhound Supersonic Car (BSC). Read More

AIF announces 30-day extension for the US$ 150 000 IPA 2015 award

AIF has announced 30-day extension for the US$ 150 000 IPA 2015 award for African innovators. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.