Energ y Amid Saving, Welfare and the Environmental Impact
It goes without saying that electricity is now an imperative aspect of our modern day lives. Not only is it the primary driver of our daily interactions, but also far more than a mere luxury as perceived in the past days. One is unable to distract their attention away from the fact that energy is inevitably ingrained at the core of our lives starting from a simple light bulb up until mega factories.
Furthermore, the positive contribution of energy to add on to people’s deluxe lifestyles falls under many factors, namely the services provided such as heating, lighting, cooking, transportation, entertainment, recreational activities and all else being a favorable addition to economic growth. Nevertheless, electricity supplies are limited and the increase of its consumption has significant negative repercussions on the environment, and the aftermaths affect the quality of living.
The average energy consumption rate per individual in the Kingdom of Saudi Arabia is double what the world consumes in energy as average. In fact, a Saudi citizen’s share of electricity consumption reached 7.7 kWh in 2016. The latter is due to a modernized way of living that demands more energy, not to mention the rapid growth rate of the population.
At this point, homes consume large amounts of electricity. Each household has a collection of home appliances and it has been estimated that one third of the electricity bill is being used for air conditioning, television and washing machines as well as other digital services. As result, it is estimated that the demand on energy will increase by 45% in the Kingdom, hitting 100 GW in 2040, which is equal to the demand rate of the rest of the GCC combined, according to Frost and Sullivan for Research and Consulting.
Meanwhile, improving electricity use requires monitoring systems to measure energy efficiency, next to the manufacturers’ abidance to the standards of quality and holding workshops to raise awareness about effective and efficient ways to reduce consumption levels. The solution lies in developing and providing integrated products that cater to the market’s needs, in addition to unique home devices that are best known for its high caliber and economical use of energy. As such, manufactures will have to keep a watchful eye on these factors.
Commenting to that regard, and stressing on LG’s devotion to provide nothing less than tier one energy efficient products, President of LG Saudi Arabia Eddie Jun said: “Our products are crafted in compliance with the awareness programs led and publicized by the SEEC. It is also part of the company’s pioneering role to deliver eco-friendly and high-performance products as it translates energy efficiency into a tangible reality.”
By the same token, a plan is set in stone on a Kingdom-level according to the announcement of the Fiscal Balance Program 2020 to reform the prices of energy and water. Subsequently, the prices of local energy productions will be set in conjunction and in reference to export prices, thus affecting the electricity tariff that is adjusted according the changes in the local market. Ultimately, this approach will help in a growing demand for innovative technology that gives individuals greater control over living environmentally sustainable lives and the conservation of energy use.
