MENA governments have recently put in place impressive renewable energy programs. Their incentives vary – hydrocarbons producers see renewables as a means of freeing up resources to boost export revenues, while importers look to diverting spending away from fuel imports. The economics of renewables technology are improving rapidly, yet recent analyses reveal that MENA’s sustainable energy initiatives face major hurdles.
London’s Chatham House sees remarkable progress in clean energy targets and efficiency strategies since 2009. However, Chatham House research fellows Glada Lahn, Paul Stevens and Felix Preston warn in their ‘Saving Oil and Gas in the Gulf’ report, published last month, that “in all GCC countries the effectiveness of plans hangs in the balance, chiefly owing to governance challenges, lack of market incentives and unpredictable political support.” (CONTINUED - 647 WORDS)
