How can we incentivize individuals and organizations to adopt alternative energy sources?

Problem

The world is currently facing an energy crisis as traditional energy sources are becoming less and there usage was found to be harmful to our environment. Most people are now trying to shift to alternative energy sources that are renewable and more environmentally friendly. Egypt is currently the fourth largest oil producer and the second largest natural gas producer in Africa with potential for new discoveries of oil and natural gas fields. It also has notable access to wind, biomass, and solar energy. Nevertheless, Egypt continues to face significant challenges in the field of energy. The Egyptian population is growing rapidly resulting in a need for sizable industry growth to fulfill our ever-increasing economic needs. The existing infrastructure is in many cases old and inefficient, requiring substantial updates and maintenance. Most energy systems rely on the traditional non-renewable energy sources of oil and gas and are not working at their optimal efficiency of production or transmission. The use of renewable energy is still quite marginal and considered to be expensive especially when compared to the highly subsidized traditional energy sources. All the above rests on a regulatory system that has yet to effectively encourage investment in renewable energy or engage the private sector in renewable energy production. This challenge is part of a project administered by Nile University and The Academy of Scientific Research and Technology that aims to engage citizens in articulating a vision for the future of Egypt regarding energy.

Requirements and Constraints

For this challenge, we would like to investigate the alternative energy sources that are available to the country. Next, we will imagine together what the perfect scenario would be for how the country, organizations, and individuals should use alternative sources. After setting the ideal scenario we will think together of what incentives can be created to encourage the transition to them. Make sure to consider both negative and positive incentives. Do not limit your ideas to what you might think is feasible or realistic, we are looking for creative suggestions as you would hope for it to be without any perceived constraints. Your ideas will be evaluated by a panel of experts during the Expert Feedback Phase who will then connect them to what is currently being done, what can be done, and what should be done. Three final scenarios, based on your suggestions and the experts’ opinions will be developed describing what the future will look like if we do everything right, what will happen if we do nothing, and what will happen if something goes dramatically wrong.

Expected Deliverables

Start Contributing: https://solvegypt.com/alternative-energy-incentives/

Target Business Relationship

Technical cooperation

Deadline

Wednesday 10 May 2017

Owner

SolvEGYPT

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