Ryiadh, Saudi Arabia, February 26, 2016 --(PR.com
)-- Advanced Conferences & Meetings is proud to announce the launch of the first annual seminar dedicated to the retrofitting and refurbishment industry in KSA.
As Saudi Arabia continues to diversify its economy beyond oil exports, energy intensity of the economy has grown. In order to conserve oil resources for the future generation, a key focus of the government and industry leaders is to reduce the energy intensity growth through policy, management and technology measures.
High consumption of electrical energy
Electrical energy consumption in Saudi Arabia has increased sharply during the last two decades due to rapid economic development. An estimated 73% of the electric energy generated in Saudi Arabia is used for operating buildings and 65% of this energy is consumed by air conditioning. Peak loads are expected to approach 60GW by 2023 and the total investment needed to meet this demand may exceed $90 billion.
A necessary shift to renewable energies
Savings on air conditioning can result in the return on investment equivalent to 400–500MW p.a. of generating capacity, which is savings of $0.25 billion p.a. In fact, energy conservation policies for sustainable development could result in reducing the electricity forecast demand by 5–10%, equivalent to 3–6GW of additional capacity, which is possible $1.5–3.0 billion saving over the next 20 years.
RetrofitTech KSA 2016 will discuss the upcoming opportunities, strategies and challenges for retrofitting and refurbishing of existing buildings to reduce electricity and water usage. The event will give an update on KSA’s national energy efficiency program and gather regional and global industry experts to share case studies on the mechanisms and strategies to achieve the desired reduction in energy demand and increase in ROI.
For further information about the seminar, please visit www.retrofittechksa.com.
There are currently sponsorship opportunities available for manufacturers and solution providers to showcase their products and services. You can contact email@example.com or call +971 4 3614001 to find out how your business can benefit from this opportunity.