In Dubai, the Regulatory and Supervisory Bureau (RSB) for electricity and water has issued its annual report stipulating that the city’s energy efficiency investment reached AED500 million ($136 million) in 2017.
Dubai increased its energy efficiency investments by 21% in 2017 from 2016 levels.
A total of AED250 million ($68 million) was directed towards energy saving initiatives in 2017, of which 21% savings in electricity and 31% in water is anticipated from the investment.
The report says AED 200 million ($54.4 million) has been invested in energy efficiency by energy service companies in 2500 buildings since 2014.
The energy efficiency measures were implemented under the city’s building retrofits programme designed to help Dubai to achieve goals set under its Demand Side Management Strategy.
The strategy aims to reduce energy demand by 30% by 2030.
Other measures include district cooling firms and the Dubai municipality using recycled water rather than desalinated water for cooling needs.
Dubai also invested in the development of the world’s largest solar project, 700MW fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The park comprises the world’s biggest thermal energy storage system which has capacity to provide energy for 15 hours.
DEWA also launched its energy efficiency investment arm Etihad Energy Services Company.
HE Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy, said: “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 and a net present profit of AED52 billion.”
The report issued by the RSB, is overseen by the Dubai Supreme Council of Energy.