GCC Solar Energy: Turning Plans into Reality
The Gulf Cooperation Council (GCC) has enormous potential for solar energy, driven by the need for alternative energy sources and the desire for economic development, employment, and technology-intensive industries. The region has announced ambitious plans to exploit solar-energy opportunities in the last half-decade, but actual deployment is still in its nascent stage, with the share of the GCC’s solar-energy capacity remaining low (< 0.5% of installed generation capacity in 2014). To renew the lost momentum, the GCC needs to overcome several challenges, including high capital costs, lack of supportive policies and regulations, and limited experience in developing and operating solar projects. The GCC governments need to work together to create a supportive environment for the solar industry, including providing incentives for private investment, streamlining the regulatory process, and investing in research and development. With the right policies and investments, the GCC can become a leader in solar energy and achieve its ambitious goals.
