Booz & Co, A New Source of Power. The Potential for Renewable Energy in the MENA Region, 2010
The Middle East and North Africa (MENA) region has an opportunity to reinvent its energy sector and even its countries’ overall economies. Recent developments in renewable energy, combined with the region’s latent potential in wind and solar power, could create significant advantage for those countries that move decisively to capitalize on them. As renewable energy approaches cost parity with conventional sources, the MENA region could reap its numerous benefits: decreased pollution levels; reduced carbon emissions; better leverage of oil and gas resources for export or higher-value industries such as petrochemicals; and the creation of new, skilled-labor jobs.
To develop a viable renewable energy sector, regional governments will need to take a number of critical steps:
- Develop a renewable energy strategy that positions the sector as a key element of the overall energy strategy
- Put in place an adequate institutional setting at the government level
- Develop a favorable policy and regulatory framework to promote the development and use of renewable energy
- Enable technical grid integration
- Develop long-term capabilities and a deep talent pool
The competitive landscape in the renewable energy sector is still evolving. Those countries that act quickly at this stage could eventually become the sector’s world leaders.
Full report (28 pages): Download here.