Prime Minister has directed the swift rollout of an incentive initiative to encourage factories and households to switch to solar energy, as the government seeks to ease pressure from the ongoing regional and global crisis.

The war between the US and Iran has sent shockwaves through global energy markets, destabilizing oil prices and raising concerns over supply security. Egypt, which relies heavily on imported fuel, faces serious risks to its economy, foreign currency reserves, and the well-being of its citizens as a result of these disruptions. However, Egypt does have options.

Egypt’s unified electricity grid registered its highest-ever load on Saturday, July 26th, setting a new record of 38,800 megawatts (MW)

Egypt’s electricity consumption hit a record high of 36,000 megawatts (MW) on June 23rd.

The heatwave that is hitting Egypt has raised electricity consumption by 8% within two days to 32,300 megawatts, an unnamed official from the Egyptian Ministry of Electricity said.