A Comparative Analysis of Solar Energy Strategies in Middle East with Rich Fossil Resources

Abstract

With countries throughout middle east and north Africa pursuing ambitious targets for a transition to renewable energies, the political economy of a region predominantly analyzed through the prism of fossil fuels is on the verge of radical change. As hydrocarbon prices decline, the low-cost producers of Middle East have an advantage and should be the last to leave the market. The world will demand proportionally more of the region’s oil and gas. Nearly half of the world's oil is located in Middle East, which has long been referred to as the "energy axis" of the planet. In the meanwhile, as the nations of this area progress towards the future, they have realized the need of supplying energy from these other sources, such that the utilization of renewable energy sources, such as the sun, has attracted considerable interest. This study analyzed and assessed these attractions in addition to five middle eastern nations and Turkey, which is located in middle east, close proximity to this area. The approach of comparing government incentives in the development of renewable power plants was used in this study. The final findings revealed the current status of this energy in the target nations. This study may give the target countries and other nations in the middle east with a wealth of information for the formulation of effective policies for the use of renewable resources.

Keywords

• feed in tariff
• photovoltaic
• power purchase agreement
• renewable energies
• solar energy