Qatar could save as much as 30% of the energy consumed by using some of the advanced technology and smart grid facility in the near future, an expert predicted on Tuesday.
“There is also a great opportunity in Qatar to increase the efficiency of electricity consumption by consuming wisely," Dr Augstin Delgado, chief innovation and sustainability officer, Iberdrola, Spain, said.
He was speaking at ‘Technovate’ an event organised by Qatar Science and Technology Park ( QSTP). Siddartha Sachdeva, founder and CEO of Innowatts, US, was the other speaker at the event, which was moderated by Dr Maher Hakim, executive director, QSTP.
“There are big opportunities in the energy sector in Qatar. The cost of producing energy with solar is going to be very less. A combination of photovoltaic (PV) and gas is a strong one to have a very good price for electricity. PV has become cheapand is going to become cheaper. How PV generation is done will help shape the generation profile in Qatar,” Delgado said.
Sachdeva said that a start-up needs to have business value to be successful.
“First and foremost, business value is the most important factor to be successful. What business value are you going to sell? It can be a problem that you are trying to solve or an opportunity that you try to harness. Then you have to think of the scalability of the business model” Sachdeva said.
“We have to provide the business value in a scalable form.To be a successful start-up, we need to solve the problem across several people in a scalable fashion. Scalability comes through the effective use of technology as technology delivers the concept to people around the globe. Moreover, one needs to be passionate about the business value,” Sachdeva said.
He also noted that everything from capital to resources and hiring resources are challenges for the start-ups. “You need to have the right kind of resources. These resources must be able to understand the challenges and align with the business. It also requires technical and technology skills,” he said.
“Credibility is another challenge even if you have the right formula and the right people. Part of it comes from raising capital. More than having capital, the most important thing is to have strategic partnership,” he added.