Retrofit by Dubai's Dewa posts social ROI of AED2.87 per dirham
Replacement of lighting bulbs with LEDs leads Mohammed Bin Rashid Housing Establishment homeowners to major savings
Dubai Electricity and Water Authority’s (Dewa) retrofit project for villas within a Mohammed Bin Rashid Housing Establishment community – which focused on the replacement of lighting bulbs with energy-efficient LED lamps – has resulted in social returns on investment (SROI) of AED2.87 for every dirham invested by the Dubai utility in the project.
Dewa’s managing director and chief executive officer, HE Saeed Mohammed Al Tayer, said the SROI for this project was arrived at based on financial savings made by homeowners as a result of the LED bulbs that were installed by Dewa.
The reduction of carbon emissions was also factored into the SROI calculations.
“The SROI result proves that Dewa is on the right track to achieve the vision of our wise leadership, which is the basis for our ambitious initiatives, programmes, and projects,” Al Tayer said.
“We will use the SROI methodology to measure the social impact of Dewa’s major projects and initiatives.”
Specialist organisation Social Value UK accredited the findings reported by Dewa, which is among the region’s foremost organisations to use the SROI system. According to Dubai Media Office, Dewa is also the region’s first government organisation to issue such an accredited report that reflects the environmental and social value of its investments – findings that are not necessarily visible in traditional financial accounts.
Retrofitting is rapidly gaining traction in the Middle East, and in the UAE, Dewa is implementing various projects to ensure more energy-efficient options are made available in homes.
In February, Dewa announced it would install photovoltaic panels on up to 10% of Emirati homes in the UAE, with six contractors picked to work under the oversight of Etihad Esco on the project that is due for a 2019 completion.