{"id":9531,"date":"2019-03-24T09:10:11","date_gmt":"2019-03-24T09:10:11","guid":{"rendered":"https:\/\/cleanenergyworld.net\/index.php\/2019\/03\/24\/clean-energy-most-competitive-source-of-new-power-generation-in-the-middle-east\/"},"modified":"2021-08-20T22:09:40","modified_gmt":"2021-08-20T22:09:40","slug":"clean-energy-most-competitive-source-of-new-power-generation-in-the-middle-east","status":"publish","type":"post","link":"https:\/\/cleanenergyworld.net\/index.php\/2019\/03\/24\/clean-energy-most-competitive-source-of-new-power-generation-in-the-middle-east\/","title":{"rendered":"Clean Energy: Most Competitive Source of New Power Generation in the Middle East"},"content":{"rendered":"\n

Under current plans, the region will install 7 gigawatts (GW) of new power generation capacity from renewable sources by the early 2020s<\/h3>\n\n\n\n

Renewable energy is the most competitive form of power generation in Gulf<\/g> Cooperation Council (GCC) <\/a>countries, according to a new report published by the International Renewable Energy Agency (IRENA)<\/a>. Abundant resources, together with strong enabling frameworks have led to solar PV prices of below 3 cents per kilowatt hour<\/g> and dispatchable concentrated solar power (CSP) of 7.3 cents per kilowatt hour<\/g>, which is less than some utilities in the region pay for natural gas.<\/p>\n\n\n\n

IRENA\u2019s new \u2018Renewable Energy Market Analysis: GCC 2019<\/a>\u2019 launched during Abu Dhabi Sustainabilty Week,<\/a> says achieving stated 2030 targets can bring significant economic benefits to the region including the creation of more than 220 000 new jobs whilst saving over 354 million barrels of oil equivalent (MBOE) in regional power sectors. The targets could reduce the power sector\u2019s carbon dioxide emissions by 136 million tonnes (22 per cent reduction), while cutting water withdrawals in the power sector by 11.5 trillion litres (17 per cent reduction) in 2020.<\/p>\n\n\n\n

The findings come as GCC economies seek to diversify their economies against the backdrop of fast-growing domestic energy demand and a desire to safeguard hydrocarbon export revenues for the future.<\/p>\n\n\n\n

\u201cThe GCC is among the most attractive regions in the world to develop large-scale solar and wind energy projects as a result of resource abundance and a favourable policy environment, a fact that is backed up by record low prices,\u201d said IRENA Director-General, Adnan Z. Amin. \u201cAs a fossil-fuel exporting region, the GCC\u2019s decisive move towards a renewable energy future is a signal to global investors and to the energy community that we are experiencing a step-change in global energy dynamics and a true energy transformation.\u201d<\/p>\n\n\n\n

\u201cThe UAE\u2019s commitment to diversifying the energy mix is central to our long-term economic growth and sustainable development objectives,\u201d said H.E. Suhail Al Mazrouei, UAE Minister of Energy. \u201cIRENA\u2019s GCC analysis provides further evidence of the strong socio-economic case for renewable energy deployment, from job creation to emission reductions. As we look to add generation capacity to serve growing populations and expanding economies, renewables will increasingly serve as central pillar of low-carbon development.\u201d<\/p>\n\n\n\n

At the end of 2017, the region had some 146 GW of installed power capacity, of which renewable energy accounted for 867 megawatts. Around 68 per cent this capacity was in the UAE. This represents a four-fold increase on capacity in 2014. Following the UAE are Saudi Arabia with 16 per cent and Kuwait with nine per cent of regional capacity.<\/p>\n\n\n\n

With renewable energy targets now in place across the region, the GCC is poised for a significant acceleration in renewables deployment as countries pursue national goals. Under current plans, the region will install a total of almost 7 gigawatts (GW) new power generation capacity from renewable sources by the early 2020s.<\/p>\n\n\n\n

Solar PV dominates the region\u2019s renewables outlook, accounting for three-quarters of the regional project pipeline, CSP and wind accout for 10 per cent and nine per cent respectively. Solar-assisted enhanced oil recovery in Oman is also expected to contribute about 1 gigawatt-thermal (GWth) in 2019.<\/p>\n\n\n\n

Proactive policies are central to accelerating renewable energy deployment, per the report, suggesting that lessons can be drawn from the GCC countries where substantial inroads have been made thanks to firm government commitments and credible, time-bound targets with a clear focus on a supportive business environment for investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Renewable energy is the most competitive form of power generation in GCC countries, according to a new report published by the International Renewable Energy Agency (IRENA). It says that achieving stated 2030 targets brings significant economic benefits to the region including the creation of more than 220 000 new jobs whilst saving over 354 million barrels of oil equivalent (MBOE) in regional power sectors. Furthermore, the power sector\u2019s CO2 emissions can be reduced by 136 million tonnes (22%), while water withdrawals in the power sector can be cut by 11.5 trillion litres (17% reduction) in 2020.<\/p>\n","protected":false},"author":2,"featured_media":9625,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[683,687,677,685],"tags":[1068,1467,915,760,1247],"class_list":["post-9531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals-finance","category-europemiddle-eastafrica","category-head-lines","category-policy-education","tag-adsw","tag-gcc","tag-irena","tag-middle-east","tag-power-generation"],"yoast_head":"\nClean Energy: Most Competitive Source of New Power Generation in the Middle East - Clean Energy World<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cleanenergyworld.net\/index.php\/2019\/03\/24\/clean-energy-most-competitive-source-of-new-power-generation-in-the-middle-east\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clean Energy: Most Competitive Source of New Power Generation in the Middle East\" \/>\n<meta property=\"og:description\" content=\"Renewable energy is the most competitive form of power generation in GCC countries, according to a new report published by the International Renewable Energy Agency (IRENA). 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