Gulf business chiefs reveal energy concerns

POWER SOURCE: Alternative energy sources like wind power need more investment, say business leaders in the Gulf. (Getty Images)

More investment is needed in alternative and renewable energy sources in the UAE, according to a survey of Gulf business leaders.

A poll conducted by Leaders Presents revealed that 92 percent of regional business bosses believe the country should spend more in the research and implementation of solar, wind power, bio-fuels and other renewable sources.

A peaceful atomic energy programme was also a high priority in the survey, with 69 percent of respondents supporting it, news agency WAM reported on Wednesday.

The survey, which reflects the opinions of nearly 300 business chiefs and key decision makers from across the region, revealed that 81 percent agreed that an energy shortage is a concern and that placing an emphasis on the research and creation of alternatives was a good idea.

"It makes sense to make a responsible effort in the direction of creating alternative energy sources, not only because it will eventually be a necessity, but because all signs say it is better for the environment as well," said Lucy Mountain, conference director of Leaders in Dubai Business Forum.

Recent analysis has concluded that national annual peak demand for electricity is likely to rise to more than 40,000 megawatts by 2020, reflecting a cumulative annual growth rate of about nine percent from 2007.

Burning crude oil/and or diesel is logistically possible to keep up with demands however it is not an economical or environmentally-friendly option, and natural gas reserves are not enough to cover the demand.

Evaluation of alternative energies including solar and wind suggested that, while these options are being deployed within the UAE, even aggressive development could only supply a small portion (4-5 percent) of peak electricity demand by 2020 so the pursuit of other sustainable alternatives were vital to a future renewable energy plan.

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Demand Side Management
Posted by Thajuddeen Siraj Manzil, Dubai, UAE on Wednesday 10 September 2008 at 09:11 UAE time


I do agree with the capacity increment and exploring alternative energy resources are some of the method to meet the energy demand. But the demand side management, energy conservation techniques are the most important way to control the power demand without adding capacity. I strongly believe that it is high time to think in that direction to decrease the power demand, it will also help to minimise carbon emission.

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