Tuesday, Dec 13, 2016
Executives indicate continued challenges and opportunities for renewable energy technologies.
low carbon technologies square measure compatible with a number of today’s in depth and typically-profitable organic compound operations;
supporting tiny and medium-sized enterprises’ (SMEs) entrepreneurial spirit is crucial;
private-public partnerships square measure extremely effective;
delegates raise why reworking theoretical blueprints in to tangible comes continues to be a serious issue
the complete report will be found here
A new report launched these days reveals that squeezed budgets from lower oil costs since mid-2014 and rising energy demand can considerably heighten the demand and use of renewable and energy potency technologies across the center East.
Lloyd's Register hosted associate degree business round-table conference discussion at the United Arab Emirates's capital International fossil oil Exhibition and Conference (ADIPEC) on the eighth Nov, tantalizing a cross-sectional of senior stakeholders from national and international oil firms, environmental firms, money consultancies and domain and analysis. Participants debated the challenge that regional economies face in establishing a efficient low carbon future whereas not jeopardizing their energy economic science and security.
Most participants were of the read that the expansion of the low carbon market isn't a threat to the prominence of hydrocarbons, which is able to be a primary supply of energy for a minimum of 5 decades. Instead, renewables opens a entryway for organic compound producers, and wider business, to expand the scope of their R&D to chop prices and enhance operational potency.
“This may be a timely issue, considering the International Energy Agency (IEA) recorded a twenty fifth reduction in field investments in 2015 to $583 billion and aforesaid in Gregorian calendar month this year that oil costs might keep at intervals today’s $50 a barrel vary till mid-2017,” says Alasdair Chief Executive, Lloyd’s Register’s Energy Director.
Buchanan states that the formidable outlook for oil-centered economies within the Gulf, like Asian country, Qatar, Kuwait and therefore the UAE, will be more and more offset by low carbon solutions.
Causes of renewable innovation
The growth of renewable and energy economical technologies is integral to meeting the forty eighth increase in world energy consumption that has been forecast by the US’ Energy data Administration (EIA) between 2012 and 2040, with the world’s population expected to swell by thirty first from today’s seven.4 billion to nine.7 billion by 2050.
Buchanan says: “The environmental incentives underpinning political appetency for renewable energy policies and technologies are stronger than ever.”
“The geographic region would enjoy associate degree integrated energy policy, which might give signposts to guide all the stakeholders towards an occasional carbon future. there's a substantial level of three-cornered cooperation and collaboration already happening here – this has created a robust and united movement to examine positive modification. The adoption of latest technologies to assist outline an occasional carbon future with widespread and price effective implementation is that the next step in serving to the region realise this vision.”
Innovation is cheap
Simple economic science square measure revolutionizing the accessibility of renewable associate degreed energy economical technologies as larger affordability triggers an unprecedented step-change within the world’s attribute of low carbon. the expansion of renewable energy technologies – from star, wind, hydro and nuclear – heralds the birth of the world’s fourth technological revolution.
Innovative uses of existing technologies are being developed within the hope of raising awareness of economical energy use amongst shoppers, together with unprecedented grant cuts that have started being enforced within the Gulf since January 2015. for instance, Dubai’s Emirates National company (ENOC) is mistreatment frequence identification (RFID) at their retail stations to assist motorists manage their fuel budgets.
Creating a regional roadmap
Participants at the chief informing nemine contradicente united that the Paris Agreement spells a replacement chapter within the traditionally fragmented narrative of international climate policy. The success is best illustrated by the North American country and China’s agreement in Gregorian calendar month to formally formalize the Agreement – the world’s 2 largest economies that square measure chargeable for four-hundredth of worldwide carbon emissions square measure currently on board.
However, Governments and money establishments within the geographic region and on the far side should enhance existing frameworks that encourage exploratory comes. the chief informing detected however fortunate R&D and therefore the ensuing renewable energy technologies swear heavily on a well-measured trial and error approach.
“All energy stakeholders want quick access to funding for R&D, which incorporates laboratories, testing sites and specialist human resources, in addition because the suggests that to share property (IP) and register patents that reach international standards. Siloed efforts square measure unlikely to succeed,” highlights Chief Executive.
Skills – a front ambition within the geographic region and on the far side
Energy entities at the informing aforesaid top quality education and a capability to assume outside of the box lie at the guts of fortunate low carbon R&D, therefore governments and domain within the geographic region and on the far side should frequently bolster students’ learning of science, technology, engineering and arithmetic (STEM).
“This would nurture the talent of the world’s future physical science specialists, electrical engineers and low carbon economists,” says Chief Executive. “Such skills, together with associate degree equally content to assume critically and creatively, can produce a holistic R&D manpower to spearhead the much-needed innovation that participants from wider business explained is important for consequent generation.”
Key lessons from the chief informing
Three key lessons will be taken from this year’s Lloyd’s Register geographic region govt briefing:
1. low carbon technologies square measure compatible with a number of today’s in depth and typically-profitable organic compound operations;
2. supporting tiny and medium-sized enterprises’ (SMEs) entrepreneurial spirit is crucial;
3. and private-public partnerships square measure extremely effective.
All 3 points will be applied to resolve the inequality between the region’s water scarceness and its growing population and booming business. Qatar already uses desalinated water to satisfy ninety nine of municipal demand, amidst a forecast that today’s population of two.6 million is probably going to multiply eight-fold by 2050, for instance.
“These briefings facilitate to debate and determine rising risks and opportunities, to assess best observe and key stakeholder’s approach to property, and to encourage ever-greater innovation within the region,” says Chief Executive. “It lies at the guts of what we have a tendency to believe to be essential for the long run ‘health’ of the center East energy business, because the implementation of latest technology has safety implications that is essentially a driver for the industry’s future.“
Lloyd’s Register finds the outcomes of its govt informing in United Arab Emirates's capital encouraging. it's operating to advance the shared understanding of the challenges two-faced by the business within the region – and therefore the wider world community.
For a lot of data, please visit: http://www.lr.org
