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

2015 Youth mHealth Innovation competition now on

Botswana’s 2015 mHealth Innovation Competition has been launched with much promise from those taking part to excel beyond limit.  Read More

Two African leaders unite to boost innovation on the continent

The UCT Graduate School of Business and MTN have formed a multi-million rand partnership to catalyse sustainable innovation in emerging markets. Read More

Africa 118 launches online business directory

 Ezana Raswork, founder and Chief Executive of Africa 118 You can now find local services in Uganda at the click of the button, with the launch of Africa 118’s online directory. Read More

Agriculture startups stand to win $50,000 each in seed funding

Innovators have two weeks left to apply for an accelerator programme for agriculture in East Africa.  Read More

Airtel, UP Magazine to award key change-makers

Airtel has partnered with UP Magazine to launch a first of its kind awards to reward innovative elements in Kenyan society. Read More

MasterCard launches $50m fund to boost rural financial services

The MasterCard Foundation has launched a US$50 million challenge fund to improve the lives of smallholder farmers by enabling businesses to begin or expand financial services in rural areas of Sub-Saharan Africa.   Read More

Ghanaian startup Beam heads for Seedstars World Final

Seedstars World, the most exclusive startup competition for emerging markets and fast growing startups, is bringing Ghana-based startup Beam to Geneva for its Final Event on February 4.  Read More

Minister tours Botswana Innovation Hub projects

Botswana’s Minister of Infrastructure, Science and Technology, Hon. Nonofo Molefhi, took time for a tour of some of the Botswana Innovation Hub (BIH) projects on a familiarisation mission.  Read More

Safaricom launches ideas portal

Safaricom has launched an interactive portal dubbed Zindua Café through which external innovators and developers will be able to share their ideas, applications and prototypes with Safaricom.  Read More

UCC launches 2015 ACIA awards

Uganda has launched the fifth Annual Communications and Innovation Awards, which celebrate and foster ICT innovation and achievement. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

2bn priced out of internet access2bn priced out of internet access

A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.

IN DEPTH

Kenya’s digital TV battle hots up Kenya’s digital TV battle hots up

Kenya’s journey to Digital TV broadcasting took a new turn this week, when the Communication Authority of Kenya (CAK) accused three local media firms of intent to disrupt the process.

COMPANY NEWS

VMware unveils vCloud for NFV with Integrated OpenStack to accelerate service innovation

VMware, the global leader in virtualisation and cloud infrastructure, today debuted VMware vCloud for NFV, an integrated Network Functions Virtualization (NFV) platform that will combine VMware’s production-proven ...