Many countries are replacing lighting systems with energy efficiency LED lamps and fixtures, whether in homes, streets, or other public places. Studies have shown that these lights can reduce energy consumption by approximately 60 per cent, helping in the reduction of monthly electricity bills, both for individuals and organisations.
Given the energy consumption of complexes, commercial companies, exhibition spaces and other private sector businesses, the potential savings can be quite significant when LED light systems are installed.
New technologies and even the use of solar energy can help cut the annual expenditures of government and public sector institutions as well. Additionally, energy efficient lighting systems can reduce carbon dioxide emissions, provide better street illumination for vehicles, and enhance safety for all.
In order for these projects to succeed, it is necessary to restructure the partnership projects between the public and private sectors, and to expand and modernise public lighting for the benefit of every citizen and institution. Most of these functions concern the municipalities that oversee street-lighting activities. By embracing energy efficient public lighting systems, municipal bodies can contribute to savings in energy costs for the government, and also create job opportunities for the local population in the process.
Through the formulation of such initiatives, some countries were able to create a permanent partnership between the public and private sectors, thereby mobilising private investments in modernising and expanding public and private lighting systems.
In the context of economic integration among the countries of the Gulf Cooperation Council, it is appropriate to provide street lights on road networks that connect our countries. We can rely on national products manufactured in the GCC countries.
However, such initiatives necessitate funding allocations in state budgets as well as private investments to replace old-style lights that consume more energy with LED based lamps. Today, we see that millions of people are benefiting from these technologies, especially in tourism, commercial and industrial projects, and in a number of other economic projects.
For its part, the World Bank supports moving forward in the implementation of such energy conservation projects through the exchange of knowledge and information, as well as studies and programmes.
The International Finance Corporation is also ready to support and develop such projects that help enhance the quality of people's lives and nurture their business growth. This enables increased investments in other areas that are essential to the well-being of the population, such as health, education and others.
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