New Energy World™
New Energy World™ embraces the whole energy industry as it connects and converges to address the decarbonisation challenge. It covers progress being made across the industry, from the dynamics under way to reduce emissions in oil and gas, through improvements to the efficiency of energy conversion and use, to cutting-edge initiatives in renewable and low-carbon technologies.
Harnessing the desert sun for a new Middle East energy future
1/11/2023
8 min read
Feature
The Middle East stands at a pivotal stage given its vast potential to move from reliance on oil wealth to become a powerhouse of solar energy. But there are hurdles to overcome in terms of significant systemic change, development of new regulatory frameworks and skill gaps, explains Sara Siddeeq.
The Middle East has long been at the epicentre of global energy dynamics. For decades, its vast oil reserves have not only fuelled the engines of the global economy but also profoundly shaped the socio-economic and geopolitical contours of the region.
However, the global shift towards sustainability, climate change concerns and the erratic nature of oil markets have nudged the region to rethink its energy paradigm. Vast arid expanses and abundant sunshine make the Middle East an ideal locale for harnessing solar energy, offering a sustainable and inexhaustible alternative to fossil fuels.
Saudi Arabia and the United Arab Emirates (UAE) collectively generate 90% of the Gulf's renewable energy output. They are at the forefront of the region’s renewable energy revolution, establishing ambitious targets to curtail their reliance on oil and diversify their energy portfolios. A pragmatic economic rationale is helping to drive this transformation as the plummeting costs of solar technologies and the prospect of establishing a robust renewable energy sector promise both energy security and new avenues of economic growth and job creation.