Falling oil prices and will have a “positive impact” on sustainability technology, according to Tatsuya Kumazawa, director and divisional head of the Eco Solutions division at Panasonic Marketing MEA (PMMAF).
Speaking at Middle East Electricity, he said: “When crude oil prices began going down people were not paying attention. But now as it is more prevalent, they have started looking at renewable energy alternatives and smart energies.
“Energy and power is undergoing an unprecedented growth with huge investments being pumped into the sector over the coming years thereby offering the industry players a challenging yet competitive business environment.”
PMMAF showcased its energy solutions that feature the latest electrical products at the Middle East Electricity 2016 (MEE 2016).
Some of the innovative solutions highlighted at the event included systems for energy creation, indoor air quality, and lighting solutions.
Kumazawa was impressed with the number of visitors at MEE 2016.
He said: “Though we are launching a lot of product ranges in the Middle East, we are also going to be making them accessible to the North Africa region as well.”
Panasonic worked on Japan’s Fujisawa Sustainable Smart Town and Kumazawa said that the expertise used in providing solar panels in that project could contribute to similar projects in the UAE and other Gulf countries.