From the past ten years Global energy markets have been in fluctuation. Prices of solar and wind power are a record low. Natural gas is going well below its actual average, and oil prices are a section of where they were just a few years before. Today’s low-cost atmosphere is opening up the new selections for electricity generation, just as energy storage technology is coming of age. Renewable Energy Storage is the best solution of it. Great companies are investing heavily in the field of energy storage batteries to meet growing demand.
On behalf of reinforcement of renewable energy supplies, in fully established and emerging markets. Energy storage is likewise a growing area of attention for entrepreneurs, comprising in this region. The UAE has at the front of the global energy marketplaces through its successful renewable energy auctions. It is currently in an excellent place to take a leadership role in energy storage, a fresh market with excessive potential. Supporting this technology would profit the country and region. And also show a clear signal to the world of where we are headed next.
UAE & Renewable Energy Storage
At the regional meeting of World Economic Forum in Jordan from May 19-21; we will hear from numerous small businesses who are at the top of this critical market alteration. For instance, Energy24, built in Lebanon, has improved technology; that can store and manage electrical power and provides 60 percent savings over conventional generators. It works without the pollution, noise, or carbon ejections. In Morocco, Elum has developed software which uses artificial intelligence to accomplish On-grid and off-grid energy values for large industry.
For governments from corner to corner Mena, plus the UAE, the emergence of an energy storage market start a new set of decisions; to know how best to create and distribute electricity. Censoriously, it suggests the chance to lock in low-cost, emissions-free renewable energy for local feeding while preserving oil and natural gas for export.
More than a few Mena countries have already inaugurated exploring energy storage; considering it a way to integrate new renewable energy resources. As a consequence to improve the stability as well as consistency of national grids. The outcome of a recent solar photovoltaic tender in Jordan that counted in battery storage indicates; that reliable electricity supply with solar power can be achieved at particularly cost-competitive pricing paralleled to fossil fuels. Even though energy storage technology remains fresh, the market is poised for dramatic growth.