INTERNATIONAL ENERGY JOURNALVolume 18, No. 04, Month DECEMBER, Year 2018, Pages 391 - 400
Opportunities, challenges and risks of transition into renewable energy: the case of the arab gulf cooperation council
Saad Darwish, Hafez Abdo, Wael Mohammad AlShuwaiee
Abstract Download PDFGulf Cooperation Council (GCC) member states have abounded underground fossil fuel resources and high potentials for renewable energy (RE). However, given the Peak Oil Theory and the international climate change regulations and protocols, investments in RE became a first-class candidate. The current conceptualized study investigates barriers, risk, and opportunities associated with the transition to RE generation in member states of GCC. The study deploys secondary data extracted from published statistics and related literature. Via an interpretive, exploratory and explanatory approach, we conclude that there is a long-term need to expand uptake of RE technologies in order to meet the possible medium to long-terms energy and economic securities. Bureaucratic inefficiency and fuel subsidies along with absence of both suitable investment framework and supporting energy policies for investments in RE were found to be significant barriers to RE deployment in the GCC states. The current paper argues that the GCC has a specific climate advantage for RE. Therefore, if RE options are utilised ideally by the GCC member states they can play a significant role in substituting conventional energy sources and in sustaining energy and economic securities of the GCC member states.
Energy efficiency, Gulf Cooperation Council, renewable energy, renewable energy investment, transition to renewable energy.