The international renewable energy agency has predicted the regions prominent push towards renewable energy as the Middle East & North Africa- MENA look into an energy transition.
The agency says that the region’s ambitious and advanced investment and diversification plans are driven by increasing energy demand, economic growth promotion, and also the urge to scale the socioeconomic benefits so as to meet the objectives pertaining to decarbonization.
It is estimated that by 2050, the MENA region may produce almost 26% of its primary energy supply from sources that happen to be renewable, as per IRENA. This puts forth a significant pattern across the region when it comes to embracing renewable energy options.
As per the World Energy Transitions Outlook from IRENA, the share of renewable energy sources in the energy sector of MENA may end up reaching 53%. As per IRENA, hydrogen could end up to 12% of the energy needs of the world with the Middle East being the primary source of it.
According to the agency, the aspirations vary between nations, as do the market size and readiness; however, it can be seen that the overall scene is witnessing a rapid change.
They believe that the region will progress and add more thrust to its efforts in the renewable energy field so as to be in line with the Paris Agreement, which asks to achieve carbon neutrality as well as energy transition ambition. The present level of energy capacity is much lower than the levels planned by the countries in the region, despite the fact that there has been progress made in the renewable energy landscape. There are expectations, however, of quicker advancements in the times to come.