Investing in a “smart” way in the GCC

Investing in a “smart” way in the GCC

/ Energy / Wednesday, 10 April 2019 08:45

According to the MENA Power Industry Outlook, the use of smart grids could help the GCC save up to $10 billion in infrastructural investment in the coming year.

The report, prepared by Ventures Onsite for Middle East Electricity, the world’s largest annual power industry trade platform, describes the development of smart grids as “one of the most important steps towards improving electricity diversification and conservation in the GCC.”

In addition, it expects that the value of the GCC smart grid market will grow to US$ 1.68 billion by 2026 as regional governments step up their deployment of smart grid infrastructure amid heightening demand for energy storage systems.

“Smart grids are essential in managing robust energy demand and mitigating the impact of climate change and global warming. Smart grids enable nations to meet their obligations under the Paris Accord,” said Claudia Konieczna, Exhibition Director – Informa Industrial Group.

“This critical dynamic is why energy storage and management are a dedicated pillar at Middle East Electricity 2019. With growth in the GCC renewable energy market expected to also drive smart grid technology adoption, the energy storage and management segment will run in close collaboration with our dedicated Solar segment – the pair are interlinked,” she added.

Claudia continues, “whilst the adoption of renewables continues to rise, the ongoing challenge faced by government, utilities and even commercial projects is locking in the energy generated to provide reliable, on-demand power. A whole range of international manufacturers have signed up for the show to demonstrate the latest innovative and cost-effective technologies informing this vital segment.”

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