Egypt has a lot of land, sunny weather, and high wind speeds, which make it an ideal place for renewable energy projects. The Egyptian government understands the importance of having a sustainable energy mix to meet the growing demand for electricity and to transition to a more sustainable and diverse electricity sector. All of these altogether create opportunities, not just economically and socially, but more importantly, for a more sustainable community.
Egypt’s 2035 Integrated Sustainable Energy Strategy aims to increase the use of renewable energy sources. The plan seeks to supply 42% of electricity from renewable sources by 2035. Specifically, wind energy is expected to provide 14%, hydropower 1.98%, photovoltaic (PV) 21.3%, concentrating solar power (CSP) 5.52%, and conventional energy sources 57.33% by 2035. The plan is currently under revision to reflect even more ambitious targets, with 33% of energy generated from renewables by 2025, 48% by 2030, 55% by 2035, and 61% by 2040. The private sector is expected to play a significant role in achieving these targets.
What economic benefits does solar energy bring?
Cost savings
Homeowners can benefit from solar panels by producing their own energy and reducing their utility bills over time. Harnessing the power of sunlight is a cost-effective way to generate energy, resulting in significant long-term savings. According to the International Renewable Energy Agency (IREA), solar power in Egypt can be produced for as little as $0.02/kWh, whereas fossil fuel-generated electricity can cost over $0.06/kWh.
Source of independent energy
Hurricanes, floods, fires, and earthquakes are natural disasters that impact people globally. These disasters can cause power outages. However, utilizing solar energy can assist the local economy by providing electricity during such times. Additionally, solar energy can help reduce the impact of global warming, which is a contributing factor to some natural disasters.
Vast job opportunities
The solar industry provides a great illustration of how solar energy can aid the city’s economy. By creating job opportunities and supporting families in the area, the solar workforce helps to boost the overall economy, benefiting all.
What Schneider Electric offers
With the rapid growth of renewable energy, it is inevitable that Egypt’s energy landscape will undergo a transformation. Schneider Electric provides solar solutions ranging from residential solar power for homes to microgrids. Our goal is to work closely with our partners and the community in Egypt to offer accessible solar solutions. To meet the country’s sustainable energy commitment, Egypt will need to expand its solar capacity, and we are here to assist in any way we can.
Egypt has a wealth of advanced solar technology, groundbreaking ideas, and abundant tropical sunshine, making it an excellent country to utilize solar technology and achieve its global climate change objectives.
The way forward
Choosing to switch to solar power is an excellent way to decrease dependence on non-renewable fossil fuels and promote a sustainable future. The Egyptian government strongly advocates for both individuals and businesses to invest in solar power in order to meet the growing demand for electricity in a sustainable manner. Ongoing research continues to showcase the vast potential for Egypt to achieve sustainability through solar power. For Schneider Electric, we will continue to collaborate with all individuals and businesses in the solar journey and create a more sustainable community.
Learn more about homes of the future from Schneider Electric.
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