flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Outlook mixed for renewable energy installations in Middle East and Africa region

Market Data

Outlook mixed for renewable energy installations in Middle East and Africa region

Several major MEA countries are actively supporting the growth of renewable energy.


By GlobalData | April 30, 2018

Renewable energy has a mixed outlook in the Middle East and Africa (MEA) region, due to a reluctance to invest from some countries and an inability to afford renewables in others, according to GlobalData. 

Several major MEA countries are actively supporting the growth of renewable energy through mechanisms such as renewable targets, renewable portfolio standards (RPS), feed in tariffs (FiTs) or auctions, net metering and tax exemptions or subsidies. 

Anchal Agarwal, Power Analyst at GlobalData, says: “Most of the countries covered in MEA* have renewable energy targets, implying that these governments are actively supporting the growth of renewable energy in their respective countries. Some countries have capacity targets, while others have targets to achieve a fixed share of generation from renewable sources.”

Iran set a target in 2014 of 5 Gigawatts (GW) from wind and solar power, by 2020. In spite of this, renewable energy did not make much progress in the country. Hence, in January 2018, the government again declared a target of installing 1 GW of renewable energy projects every year from 2018 to 2022.

The availability of oil in the MEA region presents a major challenge to renewables. For example, in 2016, Saudi Arabia reduced its 2040 renewable goals from 50% to 10% of the country’s electricity supply. In April 2017, the country declared that it will develop 30 solar and wind projects over the next 10 years as part of the kingdom’s $50 billion program to boost power generation and cut its oil consumption.

Agarwal continues: “A noticeable observation in the MEA region is the growing popularity of the auction/tender mechanism to develop large-scale renewable projects. Countries such as Egypt, Iraq, Israel, Morocco, Qatar, Saudi Arabia, South Africa and UAE have auction mechanism for various renewable energy technologies. However, countries including Algeria, Iran, Kenya, Nigeria and Tanzania have already proposed the renewable auctions and they are expected to announce it within a year.”

FiTs and net metering are other major policy support mechanisms used by governments of Middle East & African countries to promote renewable energy. Six countries have FiT schemes for various renewable technologies, and Ghana and UAE are the only countries to have proposed a net-metering scheme.

* MEA countries covered = Algeria, Angola, Egypt, Ghana, Iran, Iraq, Israel, Morocco, Nigeria, Qatar, Saudi Arabia, South Africa, Syria and UAE.

Related Stories

Market Data | Apr 20, 2021

Demand for design services continues to rapidly escalate

AIA’s ABI score for March rose to 55.6 compared to 53.3 in February.

Market Data | Apr 16, 2021

Construction employment in March trails March 2020 mark in 35 states

Nonresidential projects lag despite hot homebuilding market.

Market Data | Apr 13, 2021

ABC’s Construction Backlog slips in March; Contractor optimism continues to improve

The Construction Backlog Indicator fell to 7.8 months in March.

Market Data | Apr 9, 2021

Record jump in materials prices and supply chain distributions threaten construction firms' ability to complete vital nonresidential projects

A government index that measures the selling price for goods used construction jumped 3.5% from February to March.

Contractors | Apr 9, 2021

Construction bidding activity ticks up in February

The Blue Book Network's Velocity Index measures month-to-month changes in bidding activity among construction firms across five building sectors and in all 50 states. 

Industry Research | Apr 9, 2021

BD+C exclusive research: What building owners want from AEC firms

BD+C’s first-ever owners’ survey finds them focused on improving buildings’ performance for higher investment returns.

Market Data | Apr 7, 2021

Construction employment drops in 236 metro areas between February 2020 and February 2021

Houston-The Woodlands-Sugar Land and Odessa, Texas have worst 12-month employment losses.

Market Data | Apr 2, 2021

Nonresidential construction spending down 1.3% in February, says ABC

On a monthly basis, spending was down in 13 of 16 nonresidential subcategories.

Market Data | Apr 1, 2021

Construction spending slips in February

Shrinking demand, soaring costs, and supply delays threaten project completion dates and finances.

Market Data | Mar 26, 2021

Construction employment in February trails pre-pandemic level in 44 states

Soaring costs, supply-chain problems jeopardize future jobs.

boombox1
boombox2
native1

More In Category




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021