GCC states could save $5-$10bn through smart tech
Research shows smart tech could ensure equipment optimal performance
GCC countries could potentially save more than $5bn to $10bn in infrastructural investment by 2020 through the use of smart technology in monitoring and measuring energy usage, a recent study has claimed.
A T Kearney, Chicago based global management consultant, said that the use of smart metering and smart grids could predict usage patterns and adjust power generation and transmission to convey energy to the places it is needed the most.
Combined with the use of energy efficient lighting and illumination systems, these technologies could prove to be extremely beneficial to the economies of the GCC, the report said.
“With the extreme weather conditions that prevail in the region, energy consumption is very high. There is intense interest in technologies that enable optimum benefits to individuals and companies while at the same time saving energy,” said Ahmed Pauwels, chief executive officer of Epoc Messe Frankfurt, organiser of Light Middle East 2011.
“The exhibition and conference will highlight the role played by smart technology in resource conversation, efficient use of energy and less polluting methods of consumption,” Pauwels said.
He added that the issue was even more relevant in a modern environment which has high levels of power consumption straining generation and transmission facilities in the region.
“The use of smart metering and grids in tandem with energy-efficient modern lighting systems can result in huge savings for local economies.”
Based on its analysis of the utilities and energy sector, A T Kearney said in a similar report last year that it foresaw the Middle East as being on the edge of a ‘Smart Revolution’, which could lead to a fast roll out of smart technologies.
“Smart meters are the technology of the future to measure real-time-electricity which enable consumers for the first time to control and monitor their electricity consumption via the internet or home displays,” Christian von Tschirschky, principal at A T Kearney Middle East, said at the time.
"We estimate that GCC utilities and governments can avoid investments of around $5-10bn into peak load capacities, up until 2020.”
“In addition they can potentially reduce the peak load demand by 10-20% through effective customer behavior changes that evolve with smart metering implementation and the usage of remote control of air conditioning systems," he added.