Last Updated on December 25, 2023 by News Editor
The MENA region is poised to play a significant role in the clean energy revolution, with vast potential to generate renewable energy from sources such as solar, wind, and hydropower. Renewable energy sources are becoming increasingly critical as the world seeks to transition away from fossil fuels and reduce its carbon footprint. With abundant sunshine, strong winds, and ample water resources, the MENA region is well-placed to take advantage of this trend. The challenge now is to maximize the region’s renewable energy potential to drive economic growth, create jobs, and contribute to a more sustainable future.
The world is facing an urgent need to transition to clean, renewable energy sources as it seeks to tackle the pressing issue of climate change. The UAE is leading the energy shift to clean energy and a green hydrogen ecosystem. The Arab World will spend US$700 billion on renewable energy between 2020 and 2050 to produce approximately 70 gigawatts of electricity.
Ensuring A Consistent Approach To Clean Energy In MENA: Three Key Considerations
- Making Every Unit Of Energy Count: Improving Efficiency
All of the ongoing initiatives in the MENA region to minimize emissions are countered by the constant rise in energy consumption spurred on by economic expansion and a rising population. Thus, reducing energy consumption by making more efficient use of energy in homes, buildings, and industry is crucial. This includes more electrification, improved energy management, and optimizing processes to reduce energy waste.
- Scaling Up Renewable Energy
The MENA region has to drastically increase its use of renewable energy by the year 2050. The Energy Minister of Saudi Arabia’s declaration in December that the country would spend $150 billion on renewables is a positive move.
- Enhancing The Electrical Grid For Improved Performance
More robust grids are needed to accommodate the growing use of renewable energy sources. There is a huge need for the energy grid to be flexible and able to adjust to the integration of renewable energy sources into the energy mix. This includes measures such as innovative grid technologies and energy storage systems. As part of Saudi Arabia‘s aim to strengthen its power grid, Siemens Energy is constructing stabilization stations.
Clean Energy In MENA: The Future
Maximizing renewable energy potential in MENA requires a comprehensive approach, including investment in renewable energy technology and infrastructure. An estimated 33 GW of renewable energy capacity is projected to be deployed in the region by 2026, with around 26 GW coming from utility and distributed solar PV. The MENA power industry is expected to receive an investment of more than $250 billion, making it the most lucrative of all energy sectors. By maximizing its renewable energy potential, MENA can transition away from its reliance on fossil fuels and become a leader in the global clean energy transition.