MENA to save up to USD1bn a year with smart grids
INNOVATIONS| June 5, 2012, 10:55 a.m.
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.
MORE INNOVATIONS NEWS
BIH and SaiS bring Demola to BotswanaThe Botswana Innovation Hub (BIH) has brought to the country, together with Southern African Innovation Support (SaiS) programme and Demola bring the Demola Collaboration in Southern Africa Workshop, to be held at the Lansmore hotel in the capital. Read More
Malawi uses ICT to promote public health messages in interactive radio drama campaignMalawi has developed an innovative and highly successful interactive communications campaign in a quest to solve problems surrounding public health in the country. Read More
2015 Youth mHealth Innovation competition now onBotswana’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 continentThe 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 directoryYou 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 fundingInnovators have two weeks left to apply for an accelerator programme for agriculture in East Africa. Read More
Airtel, UP Magazine to award key change-makersAirtel 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 servicesThe 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 FinalSeedstars 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
FEATURED STORY2bn 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.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.
COMPANY NEWSMTN Group Sustainability Report released
MTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability ...