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

Innovation Institute urged to cultivate competitiveness

The Botswana Institute for Technology Research and Innovation (BITRI) which was born out of the merger between the Rural Industries Promotion Company (Botswana) (RIPCO-B) and Botswana Technology Centre (BOTEC) has been urged to build entrepreneurship. Read More

Hundreds apply to be digital change-makers

Over 400 young Ghanaians have responded to Tigo’s call to become ‘Digital Change-makers’. Read More

New East African Innovation Lab to expand digital financial services

MasterCard has announced the launch of MasterCard Labs for Financial Inclusion, a new initiative seeking to develop practical and cost-effective financial tools to expand access. Read More

Startup Weekend underway in Nairobi this week

Startup Weekend will take place on the 5th to the 7th of December at the Nairobi Garage.  Read More

Schneider Electric launches Go Green in the City 2015

Schneider Electric has launched Go Green in the City 2015, the 5th edition of its international challenge for students.  Read More

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

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

PWC: Optimism abounds but a bumpy journey ahead for somePWC: Optimism abounds but a bumpy journey ahead for some

PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.

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.