KACARE completes basis for alternative energy projects

KACARE completes basis for alternative energy projects
Updated 24 September 2013

KACARE completes basis for alternative energy projects

KACARE completes basis for alternative energy projects

An energy authority has said measures have to be put in place to address the Kingdom's rising oil and electricity.
“The Kingdom consumes a third of its oil production. Domestic demand for electricity in the Kingdom is one of the highest in the world. This will lead to an economic and environmental catastrophe if we don’t address the issue soon,” said Abdulhadi bin Mohammad Almuraih, executive director of the National Solar Energy Systems.
The economic impact lies in the gradual reduction of the Kingdom’s petrol exports because of increased local demand, especially with the increasing demand for water desalination, he said during a meeting.
The impact on the Kingdom’s treasury will be polarized within 10 years, in addition to the negative impact it will bear on the stability of the global market because of potential low oil supplies.
King Abdullah City for Atomic and Renewable Energy (KACARE) was established in 2010 to conduct major changes in energy strategies in the Kingdom, decrease total dependence on oil and begin partial transformations toward alternative energy sources such as nuclear, solar and wind energy.
“KACARE completed laying out the legal, organizational and economic basis for launching alternative energy projects in cooperation and coordination with government authorities like the Ministries of Finance and Petrol, Electricity and Cogeneration Regulatory Authority (ECRA), King Abdulaziz City, ARAMCO Saudi Arabia, Saudi Electric Company and other entities,” he said.
“Everyone is awaiting the activation of the legislations that will lead to new industries in the Kingdom through direct investments that exceed SR 400 billion over the next 20 years,” he added.
This will activate the local economy and create thousands of jobs for Saudi nationals, in addition to avoiding total dependency on oil for domestic consumption.
Those present discussed the importance of rationalizing water and electricity consumption and activating building codes by using scientifically approved methods, which include high-quality insulation, since studies show that there is a 30-percent rate of wasted energy in the Kingdom.
Committee member discussed obstacles that curb the use of solar energy and ways to overcome these obstacles, like government incentives and attracting an ambitious cadre to get acquainted with this technology and spread it in the market.
The committee chairman pointed to the importance of intensifying educational campaigns about alternative energy through state-supported seminars and exhibitions.