November 22, 2008

UAE urged to develop renewable energy

TradeArabia News Service reported that most regional business leaders believe the UAE should invest in the development of alternative and renewable energy such as solar or wind power, bio fuels or other sources.

About 92% of the business leaders polled in the survey conducted by Leaders Presents backed this view. An Atomic Energy program for peaceful and civilian uses came in as the second option with 69% in agreement.

The survey which reflects the opinions of nearly 300 regional business leaders and key decision makers from across the region revealed that 81% of regional executives agree that an energy shortage is a concern and that placing an emphasis on the research and creation of alternatives is a good idea.

Recent analysis has found that national annual peak demand for electricity is likely to rise to more than 40,000 MW 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 of peak electricity demand by 2020 revealing the pursuit of other sustainable alternatives to be vital to a future renewable energy plan.