UAE needs $10b to satisfy energy demand by 2018
The UAE will need $10 billion to satisfy energy demand in the next ten years, due to increasing development and projects on land that are growing at the rate of 12 per cent each year, according to reports.
The Gulf Cooperation Council countries are developing power generation projects, collectively worth between $160-$220 billion.
These countries also play an important role in exporting capital, estimated at $30 billion, to third world countries, according to International Bank reports.
This would increase money flow, encouraging more projects to be established in the region.
Roughly 25 per cent of water in the Gulf region has been consumed, according to reports about energy consumption in the UAE, which says a further one-fifth of the resource is being used for power generation.
Dr Abdullah Al Amiri, chairman of the Emirates Energy Awards, a subsidiary of the Dubai Quality Group, said, “There is a consistent interest in using ebb and flow movements and river outlets to generate power, by letting large amounts of water flow into thin canals. This increases water flow greatly, but also contributes to environmental problems.
Coastal tides
“As a result, scientists thought about using coastal tides. Fence extensions were extended in the canals, between small islands. This was an effective measure as opposed to putting these fences along river banks.
“This method worked in some areas in the country, but it is seasonal and relies heavily on rain and rising water levels, which does not make it very useful.”
As the world relies on generating 90 per cent of its electric power from traditional energy sources, - chemically, thermally or from natural sources - scientists are now looking for new energy sources to take over after current sources are depleted.
New sources
Speaking about the other possible theory for energy, Al Amiri said, “There have been studies conducted about using heat from the earth’s core.
It has been discovered that 99 per cent of the earth’s mass is a heat source that reaches over 1,000 degrees C.
“This making it possible to cover world energy needs for the next 100,000 years. The only problem is converting such energy into electric power involves very high costs. Studies are still continuing to ensure the success of this project.”
