Take, for instance, the humble light bulb.

Innovations in lighting technology are having a huge impact on the ability of a variety of industries to save power and slash carbon emissions – and will be a focus at the 2012 World Future Energy Summit in Abu Dhabi starting January 16.

Light-emitting diode technology, better known as LED, is gaining wide acceptance as an energy-efficient lighting solution.

From remote controls and TV screens to traffic lights, buildings and airport runways, LED lights are present almost everywhere around us.

According to a recent Bloomberg report, most of the conventional light bulbs we use today may eventually be replaced by LED-based alternatives.

By 2013 the global LED lighting market is expected to reach US$13.7 billion, a growth of 49 percent compared with 2008. That makes LED arguably one of the fastest developing technologies in sustainability on the market.

There are various reasons why LED has taken off so quickly: it offers energy efficiency, longer life, and more convenience thanks to the smaller size of LED applications.

Advanced technology now makes it possible for a 6-watt LED to provide the same brightness as a 40-watt incandescent bulb.

And while a conventional 40-watt bulb generally lasts around 1,000 hours, LED-based solutions can last a staggering 50,000 hours, based on normal daily use.

LED lights also generate less heat, making them ideal for low-temperature environments, such as household refrigerators. Moreover, a typical building with LED lights has a carbon footprint that is up to 85 percent smaller than one with regular bulbs.

Cost remains an obstacle but with greater awareness of the potential benefits, the wider adoption of LED technology appears to be only a matter of time, especially in the Middle East where population growth and urban expansion are placing significant demands on the energy efficiency performance of existing and new infrastructure developments.

The fifth edition of the World Future Energy Summit will present a wide variety of energy efficient products and solutions, many of them brand new to the MENA market, and a host of exhibitors shining new light on the small- as well as large-scale solutions to our present and future energy challenges.

One of the most effective ways of combating climate change would be to improve specific aspects of our everyday interaction with the environment, transportation is a case in point.

The transport sector globally is the single highest energy consumer (around 19%) producing around a quarter of the world’s CO2 emissions, this is probably not surprising given that much of the world depends on one form of motorised transport or another in their day-to-day lives.

Although road transport accounts for 75% of worldwide transport CO2 emissions according to the International Energy Agency (IEA), aviation and shipping are rapidly catching up. If we continue on the current path, the amount of energy we use and the associated CO2 emissions that are likely to be produced could increase by 50% by 2030, clearly an unsustainable prospect.

To mitigate this scenario, the Intergovernmental Panel on Climate Change (IPCC) recommends that CO2 emissions be reduced by 50% by 2050, this may seem like a tall order particularly for the world’s governments, vehicle manufacturers, aircraft makers and ship builders but we are already seeing meaningful progress in these areas.

For example, the global aviation industry today contributes around 2.1% of CO2 emissions and initiatives in the use of alternative fuels for air transport are beginning to really take off!

Here in the Middle East, aviation is a particularly strong growing transport sector, as the region rapidly develops economically and emerges as the modern world’s crossroads between East and West. As transit hubs in the UAE and Qatar see their respective airline fleets rapidly swell, we could witness an increasing interest and investment in reducing their carbon footprints.

Indeed, we have seen real steps being taken in this direction, in my role as Assistant Professor at the Masdar Institute of Science and Technology I have been fortunate enough to lead a unique study into jet fuel made from saltwater plants – which are abundant in this region – in partnership with Abu Dhabi based Etihad Airlines, Boeing and Honeywell’s oil and gas processing arm, UOP. Other international carriers such as KLM, Lufthansa and Continental Airlines have been testing various types of biofuels with Aeromexico launching the world’s first transcontinental flight powered partially by oil from the Jatropha Curcas oilseed plant.

Back on the ground, the world’s first carbon-neutral city, Masdar City in Abu Dhabi, began a year-long electric vehicle pilot project with Mitsubishi Heavy Industries to look into the feasibility of having a point-to-point transport system. If successful, the scheme could not only have major implications for the future of road transport at Masdar City but for the Middle East region at large.

These are just the kinds of initiatives that have the potential to impact our daily lives but they also need the encouragement and support of the world community in order to make the journey from the drawing board or the testing stage into real world sustainable transportation solutions. Recognising this, the Zayed Future Energy Prize seeks to not only highlight but stimulate and inspire renewable energy and sustainable solutions every year by awarding innovative and deserving candidates in this field from all around the world.

This year once again, I have had the privilege to chair the Review Committee meeting which was held last week to shortlist the top 33 candidates for the $4 million 2012 Prize. Over the course of the two-day meeting, we had the chance to review some excellent submissions representing parts of the renewable energy and sustainability community that are either directly or indirectly related to transportation. In 2010 we saw Toyota awarded for bringing us all one major step closer to sustainable transport with its efforts in mass-producing the world’s first hybrid fuel, the Prius since 1997.

The Zayed Future Energy Prize represents the latest in a whole host of bold moves for the UAE in renewable energy and sustainability, with the increase in the number of candidates who have submitted their green initiatives for the 2012 Prize, it’s clear that there is a genuine hunger for clean and sustainable innovations.

Dr. Sgouris Sgouridis is Assistant Professor at the Masdar Institute of Science & Technology, sustainable transportation is one of his research areas.

The conference was able to make headway on some of the key issues – extending the Kyoto Protocol, realizing a process to agree emissions curbs for both developing and developed nations by 2015, and approving a Green Climate Fund to help poor countries mitigate the effects of climate change.

Much work, of course, still needs to be done, and as many delegates left Durban, South Africa disappointed as those who departed grateful that at least some cooperation had been achieved.

The detail of a deal on emissions that is legally binding for all countries still needs to be written, and even if it is approved, implementation won’t start until 2020.

A fund committing up to US$100 billion a year to help developing countries fend off climate change is now in place, but no one is sure where the money will come from!

Kyoto lives to fight another day but countries abiding by its terms only account for around 15 per cent of global emissions.

The onus now falls on the Middle East to maintain the positive momentum achieved in South Africa.

The World Future Energy Summit 2012, which takes place in Abu Dhabi from January 16-19 on the theme ‘Powering Sustainable Innovation’, is the first major global conference after Durban, not to mention the official launch pad for 2012 as the UN’s Year of Sustainability for All.

The summit is, therefore, the perfect platform to examine the implications for the large-scale adoption of renewable energy and clean technologies in the MENA region and the wider world.

The better-than-expected news from COP 17 is already being described as a boost for the international carbon trading market, for which the UAE hopes to become a regional hub.

Mounting pressure to realize emissions reductions will also encourage the increasing integration of sustainable energy strategies in the Middle East, which has the highest carbon dioxide emissions per GDP, according to the International Energy Agency.

When Qatar hosts COP 18 next November, the world will be expecting progress not only from the heavy-duty polluters such as the United States, Europe, China and India, but also from the wealthier emerging economies in the Gulf.

Coming so soon after events in Durban, the World Future Energy Summit 2012 is an opportunity to show the world that the MENA region means business on climate change, and the increasing implementation of solutions in renewable energy, energy efficiency and sustainability.

Renewable energy technology safeguards our environment, bolsters our energy security and drives our economic development globally.

Solar power is one of the primordial energy sources. I could be biased, but to me there is no other energy source that feels so naturally right for harnessing: with each sunrise our planet has the potential capacity to sustainably recharge its energy grids across the world.

Today, thanks to Masdar, Abu Dhabi is a hothouse for innovation in solar and all sectors of renewable energy, innovation that is making its way to the world and leads to greater energy security and a cleaner environment.

The Zayed Future Energy Prize, which stems from the same vision, is yet another example of a global initiative by the Abu Dhabi government that recognizes and rewards individuals and organisations who are developing pioneering technologies in the renewable energy and sustainability sectors with the greatest potential to impact and benefit communities all over the world. Now it its fourth year, the Prize is witnessing a steady increase in the number of submissions (425 entries from 71countries for the 2012 Award) and is considered a catalyst for innovations in the renewable eco-system.

I am an ardent champion of the Prize: I feel immensely proud for the recognition Suntech received from it in 2010, and I am looking forward to hearing about the wealth of innovations and solutions NGOs, SMEs; Corporations and Individuals entered for the 2012 Awards.

Renewable energy must be a top priority for companies, governments and people alike. Determined efforts are going into making renewable energy more pervasive, more affordable, and introducing it throughout the business world and the entire manufacturing cycle.

The increasing interest in the Prize forms part of the continuing good news surrounding renewable energy this year, including a report that solar photovoltaics (PV) continues to be one of the most promising growth markets. According to the European Photovoltaic Industry Association, (EPIA), the cumulative global installed PV capacity stood at almost 16.5 GW at the end of 2010, compared to only 9 GW at the end of 2007. (Germany ranked first followed by Italy and Spain in terms of cumulative installed solar electric power capacity).

Though there’s uncertainty surrounding the incentivizing of the renewable market, in the current global economic climate (with feed-in tariffs that guaranteed above-market power prices for the life of a PV installation being slashed across Europe, including in Germany and Italy), the fact that more countries are adopting renewable energy standards and planning to build solar plants has analysts and fund managers feeling more confident about the industry and bullish on solar in particular, because the market is no longer dominated by two or three players and could finally deliver the economy of scale necessary.

While Europe is moving towards smaller rooftop installation, in the U.S. the focus is on utility-scale projects, which could transform the States into one of the world’s most dynamic solar markets. California, the epicentre of the U.S. clean energy industry, has received billions of dollars in venture capital funding to clean-energy companies. Last year, the state took in about $9 billion in venture capital, and almost 20% went to clean technology companies. Tech-savvy people and entrepreneurs are now helping America take charge of its energy future (Google alone has pledged $780 million for clean energy).

Domestic demand in Asia is picking-up too, and China is rapidly becoming the key country in the region to drive the solar power market, from both a supply and demand perspective (China’s latest five-year plan increases the country’s solar power target to 10,000 MW by 2015 and 50,000 MW by 2020).

All in all, a sunny forecast for the solar energy market.

Jerry Stokes is President of Suntech Europe

But climate change not only threatens the Maldives, it threatens us all. If you can’t save the Maldives today, you can’t save other countries tomorrow.

That’s why I am committed to shift the global debate from apathy to action: We need to make a difference now.

Most of the technologies and innovations to tackle climate change already exist, but they still need to be integrated into the world economy: energy efficiency, smart-grid devices, solar and wind power, carbon capture and sequestration, bio fuels, photovoltaic and electro-mobility – it’s all mapped out. So what holds us back? Developing sustainable energy sources is essential to the way we live and do business. Investing in clean energy can help reignite the global economy.

In recent years the Maldives have adopted a new climate change policy that can ensure the survival and sustainability of our country. Hence, we committed to become the world’s first carbon-neutral nation within a decade, by investing in renewable energy and decarbonising our economy.

I am very pleased to see that Abu Dhabi, one of the world’s largest oil producers has taken a leading role in promoting sustainable development and green energy.

I have had the pleasure of visiting Abu Dhabi on several occasions and witnessed Masdar City, the World Future Energy Summit, the first International Renewable Energy Agency and the Directorate of Energy and Climate Change to the Zayed Future Energy Prize.

The Prize is a global initiative of the Abu Dhabi government that aims to recognise and reward individuals and organisations who are developing pioneering technologies in the renewable energy and sustainability sectors, and I feel immensely privileged to be joining the judging panel for the 2012 Zayed Future Energy Prize.

Over the past three years the Prize attracted participation from over 5,000 people in over 80 countries. It awarded and provided funds to organizations that have long-term vision and the greatest potential to impact and benefit communities all over the world, in all sectors of the sustainable energy ecosystem.

Our world today is disruptive, and I believe pursuing innovation is the antidote to this disruption. Somewhere in the world there’s a new Thomas Edison on his way to making a groundbreaking innovation and changing the landscape of our future.

I believe the Zayed Future Energy Prize will soon become the center of gravity for innovations in the world of renewable energy and sustainability: it facilitates collaborations at a global scale among entrepreneurs and organizations large and small, to think bigger, act bolder and move faster towards a green future.

I look forward to the wealth of innovations the Prize participants have come to the fore with. Not only do these innovations have the power to kick-start the world economy, they can also help us protect the planet upon which we all depend.

By Mohamed Nasheed

The 2011 UNDP’s Global Trends in Renewable Energy Investment report says that global investments in renewable energy stood at $US211 billion for 2010, an increase of 30 percent year-on-year – with investment by developing countries outstripping that of the developed world for the first time. Investment in renewable in the Middle East hit US$5 billion in 2010 – an increase of 104 percent from the year before. These trends illustrate the potential of the MENA region to emerge as a hub of renewable expansion.

Partnerships and collaboration are key to building the businesses that can help fuel the renewable energy market, and the idea of the Project Village at World Future Energy Summit stemmed from the need of a platform to facilitate such partnerships.

Launched in 2011 in association with Ernst & Young and Bloomberg New Energy Finance, the Project Village provides a platform to conduct business in the renewable energy and low carbon market by maximizing networking and business opportunities during the Summit.

At the Project Village, project developers from large multinational companies, rapid growth companies and start ups will be able to discuss their latest innovations and research and development projects with leading technology and finance solution providers. Developers will have dedicated booths to showcase their projects and a theatre room to conduct business presentations ensuring maximum exposure of budding projects during the exhibition.

The 2012 Project Village is hosting projects from the Middle East, India, Africa and beyond as part of this initiative.

If you are interested in being part of the Project Village for 2012, please have a look at the qualifying criteria and deadlines on the Summit website.

But these numbers don’t reveal the full picture.

The World Wind Energy Association says the rate of new development in wind could see as much as 600GW of global capacity installed by 2015, and 1,500GW by 2020.

Germany has been a model for wind power development in recent years, propelled by its traditional strengths in R&D and doubtless its blustery north European climate.

Today, the country is Europe’s biggest wind power producer, with 27.2GW of installed capacity generating 6.2 percent of its overall electricity demand, a figure that could reach 25 percent by 2020.

But as global industry and government leaders prepare to attend the fifth World Future Energy Summit in Abu Dhabi, attention is shifting towards the role of developing world energy producers in providing the next big gust of wind power growth.

China and India are now among the world’s top five countries for installed wind capacity, and total capacity in China now exceeds that of the US: 42.3GW against 40.2GW.

Last year, China breezed past Denmark, Germany, Spain and the US to become the world’s largest maker of wind turbines, a title to compliment its ranking as the world’s leading producer of solar panels.

The economic might of emerging Asian economies is clearly driving investment in renewables. However, innovation – in government policy, new technologies, as well as financing strategies – will remain as important as hard capital in order to widen the global deployment of clean technologies and maximize their commercial viability.

‘Powering Sustainable Innovation’ will be the overriding theme of WFES 2012 – and realizing innovation in the wind power sector will be a specific topic discussed by global delegates attending the summit’s four-day conference.

Representatives from the leading wind power heavyweights, including turbine makers General Electric of the US and Vestas of Denmark, are among the summit’s confirmed keynote speakers. Their attention, like that of the hundreds of delegates on the conference floor, will be as much on the opportunities in emerging markets as on the priorities for sustained growth in the developed world.

As the need for new energy sources rises, more and more companies as well as governments are taking clean technologies seriously.

Speaking at a recent Harvard Business School Energy conference, Tommy Iglesby, a principal at McKinsey & Company’s energy practice, said:  “We are in the early stages of a technology revolution that will fundamentally change energy economics.”

But with the bulk of spending still going on existing know-how, there is an increasing need for innovation in the sector, to ensure renewables become commercially viable.

With that line of thought, ‘Powering Sustainable Innovation’ will be the main theme of the 2012 edition of the World Future Energy Summit, taking place in Abu Dhabi from January 16-19.

Innovation is also the inspiration behind ‘Innovate @ WFES’, a new platform at the summit for start-up companies specializing in new clean technologies – everything from solar, wind, water and smart grids, to bio-fuels, lighting, transport and energy storage.

Currently, 35 companies are expected to participate from countries including the USA, UK, Germany, France, Spain, UAE, Korea, Japan, Switzerland and Brazil.

Startups showcased at Innovate @ WFES will have a unique opportunity to access business partnerships and capital, and to raise their profile on the global stage.

Applications to participate at Innovate @ WFES are still open. More information can be found here on the World Future Energy Summit 2012 website.

Held under the patronage of H.H General Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and hosted by Masdar, the summit will examine the technological and financial innovation necessary to accelerate the mass adoption of renewable energy and energy efficiency solutions.

According to a report by Bloomberg New Energy Finance, 2010 was a record year for clean energy investments, of which China was responsible for around US$50 billion, by far the largest share.

But innovation needs to keep pace with funding if renewable energy is to become commercially viable.

An estimated seven-eighths of all clean-energy investment goes on existing technologies, solutions unable to compete with traditional oil and gas without government support.

The threat of reduced public subsidies amid the current economic downturn only underlines the importance of innovation to sustain renewables growth – and to continue advances in energy efficiency.

According to the International Energy Agency, more than 50 per cent of projected energy demand between 1970 and 2010 was saved through energy efficiency measures – and technologies on show at WFES will seek to continue this encouraging trend.

More than 150 international speakers will address the topic of innovation from a variety of perspectives, including government policy, technology advancement and investment.

Bringing together project owners and solution providers with investors and buyers from both the public and private sectors, WFES 2012 expects to receive more than 26,000 attendees from 140 countries, including 3,000 delegates, 650 exhibiting companies and 20 national pavilions.

Besides an international conference, WFES 2012 features a large-scale exhibition with companies from all over the world promoting their latest products and services.

But those countries in the Middle East with sufficient wind capacity are making headway beyond solar. And Middle East wind developments are perhaps not as counterintuitive as they first appear – as visitors to the 2012 World Future Energy Summit will testify, not to mention last year’s winner of the Zayed Future Energy Prize: Danish wind turbine leader, Vestas.

Wind offers a solution to the growing power requirements of countries without significant oil and gas resources, and is one of the few renewable energy technologies that require very little water in order to operate, a critical consideration in the arid Middle East.

Egypt, which perhaps has the best wind profile in the region, has already installed capacity of 400 megawatts, a figure it hopes to increase to 7,200 megawatts by 2020.

In Lebanon, which currently imports all of its fuel needs, the government is researching a national wind atlas to pinpoint the best locations for development and encourage private investment.

Jordan wants 10 per cent of its electricity to come from renewable sources by 2020, including at least 600 megawatts from wind.

Even Iran is setting a positive example in the wind sector, with 100 megawatts of capacity installed to date.

Political will and capital are clearly needed to help diversify the Middle East’s renewable energy mix, challenges that will be addressed at both the exhibition and conference of next January’s World Future Energy Summit.

The fact that developing countries like China and India are ramping up capacity in wind power demonstrates the global opportunities in the sector, and offers encouragement to decision makers in the Middle East.

In the coming decades, wind power in the region may amount to a great deal more than hot air.