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Huge Potential & Possible Savings with Renewal Energy Usage |
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Any green initiative is often criticised for its huge initial outlays but these days with tecnological advancements the cost is coming down. Apart from the initial costs these initiatives have long terms benefits & savings which cater to cover the huge initial costs incurred. As per a report published on 07-Apr-15 by the International Renewable Energy Agency (Irena), Masdar Institute, and the UAE Ministry of Foreign Affairs, There is a potential to save a stagerring US$ 1.9 Billion Per Annum in the energy system savings of the UAE if it meets its targer to Produce 10% energy by renewable sources which amounts to 25% in the power sector. This target is set to be met by the year 2030.
The report is , titled ?The Renewable Energy Prospects: UAE?. It marked the country?s first public comparison of different energy technology costs and potentials. The usage of renewable energy has otther benefits as well viz. Environmental & health. If you consider these aspects alos then there is potential to save another US$ 1 to 3.7 Billion per annum.
This report has oficially been termed as an eye opener which reteriates that sustainable power meets monetary logic as well. Solar & wind powers are the known cheapest sources of Renewable energy. As I mentioned before in beginning of my report the costs of renewable energy are coming down. An example of the same is the costs of Local Solar Photo Voltics which has come down by 80% since the year 2008. In awarding a tender for a solar park in Dubai, the lowest Solar price worldwide has been obtained. This is under 6 Cents per kilowatt hour for a 25 year fixed contract awarded for Mohammad Bin Rashid Solar Park in Dubai. I am sure this report will benefit other countries to follow suit & try to tap for these cheapest sources of reneawl energy. The report is an interesting reading & the full report may be downloaded http://www.irena.org/home/index.aspx?PriMenuID=12&mnu=Pri Thanks for reading.
Acknowledgements: Masdar Institue & IRENA are the source of this report |
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12 Comments
Its huge by any means Bro. Well reported.
Posted 14-04-2015 21:08
I love the concept of the city MASDAR. Thank you so much for bringing a great news here. Cost efficiency was almost the only problem regarding the renewable energy and I am happy to see that barrier is getting broken down step by step. Of course I am sure that the 2030 plan will boost this effort and eventually we will have unlimited and clean energy system. :-)
Posted 14-04-2015 14:06
Dear Raunak, really the report 'The Renewable Energy Prospects: UAE' is eye opening and encouraging. For sure even though the renewable energy like solar though high for installation cost but can be compensated with its sustainability and reliability.
I express best wishes to UAE for achieving its target by 2030.
Posted 13-04-2015 22:10
In using renewable energy will help in the reduction of having a high risk on global warming
Posted 13-04-2015 20:06
Indeed Raunak. Masdar is taking a lead in carrying forward the nation's green's policy(like I had a stated in my earlier article) :) Thanks for the report!
Posted 12-04-2015 20:08
Thanks for sharing a very informative report on renewable energies Raunak.
Posted 12-04-2015 16:53
@ Arushi, Thanks. Indeed this is the motivation to Go Green in full swing. Sustainability is the future.
Posted 12-04-2015 13:29
@ Humaid, Thanks for your promise to share. It is worth it.
Posted 12-04-2015 13:28
@ Anthony, Thanks for your initiative. Spread the awareness. Green is affordable now.
Posted 12-04-2015 13:27
Green technologies are not picking up in full swings because of their initial high investment although if one does the cost benefit analysis , their cost proves justified. Glad to note from your report that even the initial cost as such the technology cost is coming down which is the need of the hour.Thanks for the report , Raunak.
Posted 12-04-2015 05:46
Indeed an eye opener.
Would share this everyone :D
Posted 11-04-2015 22:56
This has been really helpful Raunak and I'll try to rebroadcast it as much as possible.
Posted 11-04-2015 21:54