eseoulpost
Green BizUAE
UAE is well placed to take lead in renewable energy storage
min  |  min
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
승인 2017.05.14  
트위터 페이스북 미투데이 요즘 네이버 구글 msn
   

ABU DHABI, 13th May, 2017 (WAM)--Global energy markets have been in flux for the past decade. Prices of solar and wind power are at record lows, natural gas is trading well below its historical average and oil prices are a fraction of where they were just a few years ago. Today’s low-cost environment is opening up new options for electricity generation, just as energy storage technology is coming of age.
Large companies are already investing heavily in energy storage batteries to meet growing demand for reinforcement of renewable energy supplies, in developed and emerging markets.
Energy storage is also a growing area of focus for entrepreneurs, including in this region, according to an article published by English language local daily, TheNational.
The UAE has been at the forefront of global energy markets with its successful renewable energy auctions, and is now in an excellent position to also take a leadership role in energy storage, a young market with great potential. Supporting this technology would benefit the country and region, and also send a clear signal to the world of where we are headed next.
At the World Economic Forum’s regional meeting in Jordan from May 19-21, we will hear from a number of small businesses who are at the crest of this critical market change.
For example, Energy24, based in Lebanon, has developed technology that can store and manage electrical power that provides 60 per cent savings over conventional generators, without the noise, pollution or carbon emissions. In Morocco, eLum has developed software that uses artificial intelligence to manage on-grid and off-grid energy costs for large industry.
For governments across Mena, including the UAE, the emergence of an energy storage market opens up a new set of decisions about how best to generate and distribute electricity. Critically, it offers the chance to lock in low-cost, emissions-free renewable energy for domestic consumption while reserving oil and natural gas for export.
Several Mena countries have already begun exploring energy storage as a way to integrate new renewable generation resources and improve the stability and reliability of national grids. The outcome of a recent solar photovoltaic tender in Jordan that included battery storage indicates that dependable electricity supply using solar power can be achieved at extremely cost-competitive pricing compared to fossil fuels.
While energy storage technology remains young, the market is poised for dramatic expansion. Battery storage deployment in emerging markets could grow 40-fold in the coming decade as more countries bet on its value as a solar and wind back-up, according to research commissioned this year by my institution, the International Finance Corporation, as well as the World Bank’s Energy Sector Management Assistance Programme and the US department of energy.
Philippe Le Houerou is the CEO of International Finance Corporation, the private sector arm of the World Bank Group.

< 저작권자 © eseoulpost 무단전재 및 재배포금지 >
폰트키우기 폰트줄이기 프린트하기 메일보내기 신고하기
트위터 페이스북 미투데이 요즘 네이버 구글 msn 뒤로가기 위로가기
이 기사에 대한 댓글 이야기 (0)
자동등록방지용 코드를 입력하세요!   
확인
- 200자까지 쓰실 수 있습니다. (현재 0 byte / 최대 400byte)
- 욕설등 인신공격성 글은 삭제 합니다. [운영원칙]
이 기사에 대한 댓글 이야기 (0)
Most Read
1
Georgia envoy hosts gala reception on Dec. 8 to fete 25th anniversary of diplomatic ties with Korea
2
Qatari Envoy hosts reception to fete National Day at Hotel Shilla in Seoul
3
UN and Forum for Promoting Peace in Muslim Societies to cooperate on religious education
4
Kazahkstan fetes National Day at gala reception at JW Marriott Hotel in Seoul
5
Mohamed bin Zayed receives Korean envoy
6
2 Miss Universe 2017 candidates extend PH tour
7
Yes, we can make Philippines safest for tourists
8
S. Korea's annual trade volume tops US$1 tln
9
World Future Energy Summit 2018 to map transition to a sustainable economy and lead ‘cleantech’ innovation
10
National Media Council reveals results of ‘Public Trust in UAE Media’ Study
Photo News Green Biz
Climate change threatens agricultural trade in Pacific Rim economies, UN agency warns
Climate change threatens agricultu...
min
Environment and Protected Areas Authority in Sharjah highlights importance of protecting endangered species
Environment and Protected Areas Au...
min
UAE is leading the world in renewable energy: Minister of Climate Change and Environment
UAE is leading the world in renewa...
min
UAE Council for Climate Change and Environment convenes third meeting
UAE Council for Climate Change and...
min
National Climate Change Plan builds on the existing policy for green growth, sustainable development in UAE, says Al Zeyoudi
National Climate Change Plan build...
min
Photo News Sports
Gangwon gears up to offer best cultural events during Olympics
Gangwon gears up to offer best cul...
min
U.N. adopts Olympic Truce for PyeongChang Winter Olympics
U.N. adopts Olympic Truce for Pyeo...
min
PyeongChang 2018 chief says S. Korea ready to welcome world
PyeongChang 2018 chief says S. Kor...
min
South Koreans sweep Masters titles in 19th Asian Youth Bowling tilt
South Koreans sweep Masters titles...
min
Host S. Korea eyes top-10 finish at 2018 PyeongChang Paralympics
Host S. Korea eyes top-10 finish a...
min
Korea bags 3rd gold in Asian Youth Bowling Tilt
Korea bags 3rd gold in Asian Youth...
min
Sharjah's Arab Women Sports Tournament holds preparatory meeting
Sharjah's Arab Women Sports Tourna...
min
S. Korean Ji Eun-hee captures 1st LPGA win in 8 years
S. Korean Ji Eun-hee captures 1st ...
min
Photo News World
Gangwon gears up to offer best cultural events during Olympics
Gangwon gears up to offer best cul...
min
U.N. adopts Olympic Truce for PyeongChang Winter Olympics
U.N. adopts Olympic Truce for Pyeo...
min
PyeongChang 2018 chief says S. Korea ready to welcome world
PyeongChang 2018 chief says S. Kor...
min
South Koreans sweep Masters titles in 19th Asian Youth Bowling tilt
South Koreans sweep Masters titles...
min
Host S. Korea eyes top-10 finish at 2018 PyeongChang Paralympics
Host S. Korea eyes top-10 finish a...
min
Korea bags 3rd gold in Asian Youth Bowling Tilt
Korea bags 3rd gold in Asian Youth...
min
Sharjah's Arab Women Sports Tournament holds preparatory meeting
Sharjah's Arab Women Sports Tourna...
min
S. Korean Ji Eun-hee captures 1st LPGA win in 8 years
S. Korean Ji Eun-hee captures 1st ...
min
Photo News Opinion
Hyundai workers to continue strikes next week
Hyundai workers to continue strike...
min
Lawmaker says Moon, Xi share understanding on 'freeze for freeze' idea to resolve N.K. nuclear issue
Lawmaker says Moon, Xi share under...
min
Court rejects injunction against dismissal of ex-MBC chief
Court rejects injunction against d...
min
13 dead, 2 missing in chartered fishing boat accident
13 dead, 2 missing in chartered fi...
min
President Moon commends JSA troops over defection of N. Korean soldier
President Moon commends JSA troops...
min
BOK hikes key rate by 0.25 pct point for first time in more than 6 yrs
BOK hikes key rate by 0.25 pct poi...
min
Ruling party chief says China's 'stick' needed to rein in N. Korea
Ruling party chief says China's 's...
min
Court rules against Paris Baguette over baker hiring
Court rules against Paris Baguette...
min
Newspaper AboutNews ReportAdvertiseComplaintsPrivacy PolicyJuvenile protectionRejection of E-mail Collection
Gangnam-gu, Teheran 52 street in Tehran Bldg, 616(Yeoksam-dong)  |  Main Phone: 02) 563-0604  |  Fax: 02) 538-5665
Chairman : jeong-woo Lee  |  Advisor : byung-il Min  |  Publisher: jae-mo Kah  |  Editors: il-hong Kim
Registration Number 1928 Seoul ah  |  eseoulpost.com / eseoulpost.net / Global Korea.,Ltd
Copyright © 2011 eseoulpost. All rights reserved. mail to jaemokah@daum.com , kih10kr@empas.com/ www.globalkorea.info
arabafrica.net / UAE Interract / Emirtes News Agency(WAM)/ http://wam.org.ae / www.uaeinteract.com