This year, it's not just Abu Dhabi's landmarks that turned green after being lit up for Sustainability Week. The whole country is planning to go green through significant increases to its targets for power generation through clean energy by 2030. According to the Minister of Energy, Suhail Al Mazrouei, at least 25 per cent of electricity will be generated from a combination of solar and nuclear, which is the major source of non-hydrocarbon based power generation.
The continuing decline of international oil and gas prices presents both a challenge and an opportunity. The economic consequences have already affected government spending. But the country’s economy is strong and diversified enough to weather the current storm. Difficult times should only serve to motivate us to be more innovative in finding smarter solutions. They also present us with an opportunity to intensify our efforts to diversify energy sources and move away from an oil-dominated economy. This will also lead to a greater focus on research and investment in renewable energy.
The country has been investing in nuclear energy and when the South Korean-designed nuclear reactors come online between 2017 and 2020, they will help cover up a substantial proportion of the country’s electricity demands when fully operational. The country has also been researching high-efficiency solar technologies that suit the region’s environment and climate. Such efforts will help reduce the price of solar-generated power down and strengthen the market. If the UAE succeeds in its goals, it will be able to export its expertise in solar to other countries, putting the economy on an even better footing.
Focusing on nuclear and solar industries will also bring other benefits, such as creating highly skilled jobs in a knowledge-driven economy. According to a new report by the International Renewable Energy Agency, the Gulf countries would be able to create more than 100,000 jobs a year if they meet their stated clean-energy targets by 2030. The UAE alone will be able to halve fuel consumption in water and power industries if its targets are met.
Hosting Sustainability Week 2016 and investing in renewables shows that the UAE is serious in its efforts and endeavour to pivot away from hydrocarbons and towards clean technologies.
