The Cooperation Council for the Arab States of the Gulf (GCC) has been at the epicenter of global energy markets because of its substantial endowment of hydrocarbons. Yet countries in the region have also stated their intent to be global leaders in renewable energy. This collection explores the drivers for the widespread adoption of renewable energy around the GCC, the need for renewable energy and the policy-economic factors that can create success.
All six countries within the GCC have plans to include renewable energy power generation in their energy mix for various reasons including: a growing demand for electricity because of increasing populations, an increasing government fiscal deficit due to inefficient subsidies, the need to diversify the economy and global pressure to meet climate change requirements. However, the decision of when and by how much to introduce renewable energy is fraught with complications. In this book, a stellar cast of regional policy and academic experts explore the reasons behind these renewable energy plans and the potential impediments to success, whether it be the declining cost of producing energy from hydrocarbons, an infrastructure which needs to be updated, social acceptance, lack of financing and even harsh weather. Weighing up all these factors, the book considers the route forward for renewable energy in the Gulf region.
The Economics of Renewable Energy in the Gulf offers an excellent examination of the adoption of renewable energy in the area. It will be of great interest to academic researchers and policy makers alike, particularly those working in the areas of energy economics, public policy and international relations.
Author(s): Hisham M. Akhonbay
Series: Routledge Explorations in Environmental Economics
Publisher: Routledge
Year: 2018
Language: English
Pages: 268
City: London
The Economics of Renewable Energy in the Gulf- Front Cover
Half Title
Series Page
Title Page
Copyright Page
Contents
List of figures
List of tables
List of contributors
Foreword
Acknowledgements
Chapter 1: Introduction
Capturing the full potential of solar energy
Setting new policy frameworks for renewable energy
Energy system planning and integration to support renewables
Additional benefits of building a renewable energy sector
Chapter 2: Overview of energy supply and demand in the GCC
Introduction
The Gulf Cooperation Council energy system
Energy demand and growth
Energy pricing
Carbon dioxide (CO2) emissions
Energy transformation in the power and water sectors
Resources
Energy pricing as a barrier to coordination
Policies, targets and reforms
Conclusions
Chapter 3: Economics of solar power in the GCC: assessing
opportunities at residential and utility scales
Solar power in the GCC: weighing the costs and benefits
Examining motivations, barriers and potential breakthroughs
Case study: the potential for solar electricity generation in
Saudi Arabia
Which solar option delivers greater benefit in GCC contexts
Conclusions
Chapter 4: Navigating the transition to renewable energy in
the GCC: lessons from the European Union
Targets set, now time to move toward them
State of GCC readiness for learning and ability to deploy
renewable energy
Case study: renewable energy deployment lessons from the
European Union experience
Conclusions
Chapter 5: Prioritizing renewable energy in a time of fiscal austerity
Introduction
Fiscal constraint disrupts traditional roles of GCC
governments
Rising energy demand supports the case for increased renewables
Opportunities and risks for renewable energy investment in
GCC states
Legal frameworks, ownership structures and financial products:
what is working, what needs reform
Case study of the United Arab Emirates
Conclusions
Chapter 6: De-risking low carbon investments in the GCC
Global to regional overview of low carbon development
Renewable energy and climate action potential in the GCC
De-risking and scaling up low carbon investment in the GCC
The De-Risking Renewable Energy Investment methodology
Applying the De-Risking Renewable Energy Investment methodology
to GCC countries
Future prospects for the Gulf to emerge as a hub for low carbon
investments
Conclusions
Chapter 7: Policies to promote renewables in the Middle East and
North Africa’s resource rich economies
Tapping into both hydrocarbon and renewable resources
The central role of incentives
Addressing barriers to renewable investment
Revising energy policy in the MENA
Conclusions
Chapter 8: Energy and climate policies to stimulate renewables
deployment in GCC countries
Review of renewable energy deployment to date and its relevance
to GCC countries
Targets set, now how to achieve them?
The energy and climate policy nexus, including energy pricing
Analysis: the context for renewable energy in the GCC
Policies to stimulate deployment of renewable energy in
the GCC
Conclusions
Chapter 9: Potential impacts of solar energy integration on
fuel mix strategies in Qatar
The potential for solar in power generation and electric transport
Analytical investigations of fuel mix strategies
A three step approach to calculate optimal fuel mix strategies
Results and discussion
Conclusions
Chapter 10: Renewable energy and its potential impact on GCC
labor markets: opportunities and constraints
Can renewable energy deliver new hope for GCC youth?
Understanding the links between renewable energy and employment
The empirical evidence on employment and renewable energy
GCC labor markets: identifying the constraints
Potential policy actions
Conclusions
Chapter 11: Forging a more centralized GCC renewable energy
policy
Introduction
Background: three GCC challenges
The GCC’s current, decentralized approach to renewable energy
A more centralized GCC renewable energy policy
Conclusions
Index
