JEDDAH: P.K. ABDUL GHAFOUR
Published — Tuesday 8 July 2014
Last update 8 July 2014 3:12 pm
He said Saudi Arabia required investments worth SR500 billion to meet growing electricity requirements in the next 10 years. “The housing sector is a major consumer of electricity and 70 percent of buildings in the Kingdom are not insulated.”
Electricity consumption grew by nine percent in 2012 compared with the previous year, Al-Bunyan said, adding that non-insulated buildings were eating away Saudi electricity.
According to figures issued by the Ministry of Water and Electricity, power consumption in the Kingdom is expected to reach 90,000 megawatts within 10 years.
The housing sector consumes about half of the electricity supply, followed by industries, who consume 21 percent, the trade sector 15 percent and government facilities 12 percent. The government provides subsidized fuel worth SR150 billion to theSaudi Electricity Co. for power generation.
Al-Bunyan dismissed claims by contractors that the insulation of buildings was expensive, saying it would require only three to five percent of the total project cost. The insulation of walls and terraces would help save about 35 percent of the electricity bill every month, he added.
“Studies show that we can save up to 60 percent of electricity through the insulation of buildings,” Al-Bunyan said. He referred to a royal decree that urges realtors to install insulation systems in their new residential, industrial and commercial buildings.
“The application of insulation and the use of highly efficient air-conditioning systems will help us save 40 gigawatt per hour every year and reduce our collective electricity bill by at least SR2 billion annually,” Al-Bunyan said.
“The system will also help save SR7 billion for national coffers and reduce fuel consumption by 30 million barrels annually,” he added.