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Middle East:An Emerging Model For Countries Around The World In Sustainable Energy |
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The world?s transition to renewables is gathering pace and the Middle East and North Africa is very much at the vanguard of that shift.
As much as two-thirds of the $US7.7 trillion of investment forecast by Bloomberg New Energy Finance to build new power plants globally by 2030, is earmarked for renewable energy. And of that, MENA will see a $US800 billion share – the majority going to solar and wind. That is over $US50 billion a year for 15 years to support the region?s stated goals of deploying more than 100GW of renewable energy to meet rising power demands and mitigate carbon emissions –not to mention the economic imperative. The opportunity cost of burning domestic oil and gas for power generation, rather than deploying renewables, is significant. In fact, a Citigroup report which suggested the world?s largest exporter of oil, Saudi Arabia, could become a net importer of oil by 2030 at current domestic consumption growth, has catalyzed regional development. In Morocco, Jordan and the UAE progress is underway. In fact, the recently published REN21 report confirmed that the UAE is now home to the third highest capacity of concentrated solar power in the world, behind only China and Spain and ahead of cleanenergy powerhouses such as Germany, the US and Japan. Having built, commissioned and inaugurated the Masdar-owned Shams 1 in 2013, the innovative 100-megawatt CSP plant catapulted the Emirates close to the top of the CSP table, underscoring the UAE?s intention to capitalize on the commercial opportunity presented by latest generation technology, abundant sun and the absence of political barriers. The rise of renewables brings with it many once-in-a-generation commercial possibilities and nowhere is this truer than in the Middle East. Countries surrounded by deserts are taking the initiative to go green and are advocating a switch to renewable energy despite their rich energy sources(oil). This is indeed a positive sign, ascertaining efficient sustainable energy management. Image Credits-Google Images |
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6 Comments
A great progress! I look forward to see it in other regions :)
Posted 03-11-2014 17:08
Thanks everyone for your valuable comments:)
Posted 24-10-2014 03:44
a great Initiative by UAE and we all no that it is not the first time to see such a great work in UAE , it is a model country in the Arabs Region
Posted 22-10-2014 22:10
Renewable Sources of Energy has been tapped aptly by the UAE. All the best for future plans.
Thanks For your report, Manav
Posted 21-10-2014 19:02
I believe other countries in Middle east region are also making progress in renewable energy field but UAE is definitely overwhelmingly going further. Thank you Manav :)
Posted 21-10-2014 13:44
UAE was one of the earliest of the Middle East nations to realize that her vast petroleum sources would run out at some point, and figure out that they had better switch to renewable energy resources. Hopefully other nations will follow her example soon.
Posted 16-10-2014 15:00