Net Metering Scheme
Dubai has shown its ‘clean’ energy drive and desire to create a business-friendly environment for investors
The Dubai Clean Energy Strategy 2050 is a concrete testament to the emirate’s continued efforts to develop a thriving ‘green economy’ and reduce the dependence on environmentally degrading fossil fuels. From an investor’s perspective, the strategy involves three particularly appealing initiatives:
Dubai Green Zone
A new free zone development in the city, which seeks to attract renewable energy companies from across the world, while housing state-of-the-art research and development (R&D) centers.
Dubai Green Fund
An AED 100bn (EUR 23bn) fund that will provide access to loans for investors in the renewable energy sector at reduced interest rates.
Funding for new R&D
The Dubai government plans to pump AED 500m (EUR 115m) into new R&D focused on electricity generated by solar power, smart grids and energy efficiency as a whole.
Going forward, it is crystal clear that Dubai will act as a frontrunner for the global transition towards a brighter, greener and more sustainable future.