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- Title
Opportunities, Challenges and Risks of Transition into Renewable Energy: The Case of the Arab Gulf Cooperation Council.
- Authors
Darwish, Saad; Abdo, Hafez; Alshuwaiee, Wael M.
- Abstract
Gulf 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.
- Subjects
GULF Cooperation Council; RENEWABLE energy sources; FOSSIL fuels; HUBBERT peak theory; ECONOMIC security
- Publication
International Energy Journal, 2018, Vol 18, Issue 4, p391
- ISSN
1513-718X
- Publication type
Article