There are hurdles to overcome to installing solar panels in your home, from getting approval from your developer to using a Dewa-approved contractor, but there's no substitute for good research.
Choose product type and site location
First, homeowners need to contact the developer of their community to find out whether there are any restrictions on changing physical properties of the home. For example, an owner with property in The Springs would need to contact Emaar Properties.
You may think that you can install panels on the ground, out of sight. It is very important to avoid total or partial shading of panels during the day as this will render the system ineffective. Look to have mounted solar panels in a seamless configuration to enable easy access for cleaning. Flat villa rooftops and parking garages are some of the most suitable areas.
Make sure the location is ventilated as the breeze will help increase panel efficiency, which means a greater return on investment.
No two systems are alike and will not have the same power output. Solar installers should survey each property and advise you on the best layout and installation method.
Budget
Solar panels typically only make up 40 per cent of the total cost of a system while other parts such as inverters, mounting and wiring make up another 40 per cent. This leaves the design, installation and various authority approvals.
Go to the Shams Dubai website and look through the list of registered consultants – 52 by mid-December.
Get prices from numerous approved contractors and look up their previous experience. As it is relatively easy to become a certified expert, homeowners should look for reputable companies with proven experience in Dubai. It is important to note that contractors who are not Dewa-approved will not be allowed to connect your system to the grid.
You can also gauge prices by going to Dubai’s newly launched Green Deal site which offers a standardised approach.
Engineering and approval
Homeowners need to have the property’s construction drawings and site affection plan, which was provided by the developer at the time of purchase.
This is used by the contractors/consultants to create new drawings to show the layout of the panels and wiring for approval by the various authorities. Some contractors will go as far as providing renderings to show how your system will look.
The contractor needs to obtain no-objection certificates from Dewa (electrical side of system) and Dubai Municipality (mechanical/construction side of system) before any work can start. Usually the homeowner is responsible for applying for community/developer approvals and access permits using the same drawings/paperwork.
There are some companies that offer all-inclusive services but you should make sure to know exactly what is included at the beginning.
Purchase, install and commission
If your contractor doesn’t sell the equipment, you may use panels from a variety of other sources as long as the specifications match the requirements given by Dewa.
Again, research the type of panels to make sure that would be a good fit for what your needs.
Do not make a decision based solely on price but look at efficiency and any other reviews of the product.
Shams Dubai also includes a list of approved products and vendors.
The best route would definitely be to find a contractor that offers a turnkey installation, or a solution that offers one rate for everything from installation, consulting to financing.
The total time from idea to implementation can be from as little as three months (Dubai Carbon) or up to five months (Oryx Solar).
The actual installation of the system should take no longer than three days.
Then there should be three to four visits and inspections from Dewa and Dubai Municipality.
The rest is time it takes to seek the various stages of approval required.
* Input provided by Dubai Carbon and Oryx Solar
lgraves@thenational.ae
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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