Page 24 - RSB Annual Report 2020 English

THE ENERGY SERVICES MARKET Figure 7 shows the continued rise in total investment since the launch of the scheme, albeit 2020 adding the smallest contribution since 2015. 300 250 200 150 100 50 14 14 2014 2015 Retired Projects 37 23 14 79 44 35 135 175 40 58 77 135 247 74 151 22 294 47 208 38 0 › Figure (4) 2016 2017 2018 Ongoing Projects New 2019 2020 Total ⁞ Target energy savings per annum for 2020 increased by only 4% from the previous year, with 47GWh added by new projects to a total target of 636GWh. In addition, target water savings rose from 486MIG in 2019 to 490MIG in 2020, an increase of less than 1%. This reflected the slowdown in 2020 activity expected as a result of the Covid 19 pandemic. Nevertheless, investment by private ESCOs rose by 15% from its 2019 level, suggesting strong underlying growth in Dubai’s ESCO market. ⁞ Continuing to retire projects which ESCOs cease to report on, we dropped 16 of the 2019 reported projects from 2020’s savings figures, bringing the total of retired projects to 38. These 16 projects had targeted 91 buildings, 22GWh of energy savings and 1MIG of water savings. Their investment value continues to be included in cumulative investment figures. 24 RSB Projects