Investments in energy efficiency projects were $68m in 2017, an increase of one-third compared to 2016
The Regulatory & Supervisory Bureau (RSB) for electricity and water in Dubai has revealed that the emirates’s cumulative investments in the energy efficiency market increased to AED500 million ($136 million) in 2017.
According to RSB’s 2017 annual report, investments in energy efficiency projects were AED250 million in 2017, an increase of one-third compared to 2016.
These projects are expected to achieve 21 percent savings in electricity, and 31 percent in water.
Since 2014, energy service companies launched energy-efficiency projects worth AED200 million in around 2500 buildings as part of the building retrofit programme, a statement said.
“We work to achieve the vision of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform the emirate into a global hub for clean energy and green economy," said Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy.
"The report... demonstrates the promising potential for the energy-services market and the financial savings that can be achieved in building retrofits."
Over 30,000 buildings in Dubai are being retrofitted to make them energy efficient. The present costs for this strategic project are approximately AED30 billion, with returns of AED82 billion, added Al Tayer.
The report also highlighted the efforts of district cooling companies and their use of recycled water rather than desalinated water for their cooling needs, with 40 percent met from recycled water in 2017.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.