Yellow Door Energy, a leading solar developer for commercial and industrial customers in the Middle East and South Asia, today presented on a webinar about the solar industry in the UAE and explained how solar leasing can help businesses optimize revenue and reach their sustainability objectives.
The webinar was hosted by Extel Energy and was attended by solar energy experts within the UAE solar industry.
What was this webinar about?
The esteemed speakers initiated the webinar with a general discussion about UAE’s current state and progression with solar. They highlighted DEWA’s statistics of having over 200 MWp of solar projects across the UAE. The experts shared their insights regarding the financial challenges faced by solar leasing companies as well as the benefits for businesses when they opt for a solar lease.
What is solar leasing?
Solar leases allow businesses to switch to clean energy and enjoy guaranteed performance of the solar plant without paying any upfront capital. The solar leasing company handles all the expenses of building, operating, and maintaining the solar plant whereas the customer pays the electricity bills every month.
With a solar lease, BPC / Greenhouse went solar without any upfront investment. Learn more about the project by watching the video below.
Who was the speaker from Yellow Door Energy?
The speaker from Yellow Door Energy was Anup Isaac, Country Director for UAE and Oman. To learn more about Isaac, please read his profile here: https://www.yellowdoorenergy.com/team/anup-isaac/
What was discussed by Anup Isaac?
Isaac began by highlighting the challenges of having sufficient financial resources to fund the projects, as well as convincing the companies about the reliability of solar panels that should last for 20 years.
The challenge has been overcome as today Yellow Door Energy has proven itself with over 120 megawatts of solar projects in the region. With its successful projects, the company has gained the trust of customers, contractors, and financiers. The main aim is to lift the burden off the customers, who would be able to focus on their core business and entrust the solar and energy initiatives to Yellow Door Energy.
Should businesses consider a solar lease?
Isaac explained how COVID-19 has exposed a lot of uncertainties in business and many companies have had their profit margins significantly impacted. By implementing a solar lease (also called a solar power purchase agreement in some markets), businesses can lock in electricity prices for many years. This reduces risk and uncertainty.
Isaac also added that businesses can save money on electricity bills with solar, compared to the electricity tariff paid to the utility. Isaac concluded by stating that Yellow Door Energy’s goal is to help businesses in all seven emirates to switch to clean energy and save money.
“To achieve this, we need policies and regulations that support solar. Together, we can contribute to the UAE Energy Strategy and create a sustainable future for the next 50 years and beyond.”
Country Director for UAE & Oman
Yellow Door Energy
All in all, the webinar provided in-depth insights on the solar industry in the UAE. Special thanks to Extel Energy for hosting this engaging webinar and to all the participants for sharing their expertise on this topic.
We hope everyone enjoyed attending this webinar and we look forward to seeing more solar initiatives embraced by the commercial and industrial businesses across the UAE and the MENA region.
Where can the audience get more information?View Full Press Release (PDF)