THE Middle East and North Africa (Mena) region is in the early stages of its smart grid development but stands to realise strong benefits, including minimum savings of $300 million to $1 billion per year for Gulf countries. Smart grid is an opportunity for Mena countries to incorporate their vast solar and renewable resources, manage growing demand, reduce carbon emissions and cut down on electricity system losses, according to a new study released today by Northeast Group, LLC.

The new study ‘Middle East and North Africa Smart Grid: Market Forecast (2012-2022)’ projects the smart metering market will reach 16.1 million units by 2022 with cumulative capital expenditure of $3.9 billion. The majority of near-term activity will be in the Gulf region, where Saudi Arabia and the UAE are currently leading the way. By 2022, 86 per cent of homes and businesses in the Gulf countries will have smart meters. Other Mena countries outside the Gulf will develop at a slower pace – due largely to political risk – but represent larger market sizes and also stand to realise strong benefits from smart grid technologies.