Dubai has launched its Clean Energy Strategy 2050 with billion-dollar investments in generating clean energy, Trade Arabia reported.

The strategy is to initiate installation of solar panels on the roofs of all buildings and link them to local power utility already by 2030.

The three-fold strategy will increase investments in technological innovations, shape legal framework promoting cooperation between municipalities and building owners, and establish the Dubai Green Fund for low-cost loans for investors.

Dubai’s clean energy is expected to increase to 7 % by 2020, 25 % by 2030 and 75 % by 2050.

Dubai’s ruler, Sheikh Mohammed bin Rashid Al Maktoum, explained the aim of the strategy in a statement.  “It aims to provide 75 % of the Emirate’s energy through clean energy sources by 2050, reflecting our commitment to establish a sustainable model in energy conservation, which can be exported to the whole world, and support economic growth without damaging the environment and natural resources,”

According to Sheikh Mohammed, Dubai intends to create a tax-free business zone to attract clean energy investors internationally.