Opportunities, Challenges And Risks Of Transition Into Renewable Energy : The Case Study Of Arab Gulf Cooperation Council

Darwish, Saad; Abdo, Hafez; Alsabuwaiee, Wael

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

Citation

Darwish, S., Abdo, H., & Alsabuwaiee, W. (2019). Opportunities, Challenges And Risks Of Transition Into Renewable Energy : The Case Study Of Arab Gulf Cooperation Council. International Energy Journal, 18(4), 391-400

• Journal Article Type: Article
• Acceptance Date: Nov 18, 2018
• Online Publication Date: Dec 19, 2019
• Publication Date: Dec 19, 2019
• Deposit Date: Jan 23, 2020
• Publicly Available Date: Jan 23, 2020
• Journal: International Energy Journal
• Print ISSN: 1513-718X
• Electronic ISSN: 1513-718X
• Publisher: Regional Energy Resources Information Center (RERIC)
• Peer Reviewed: Peer Reviewed
• Volume: 18
• Issue: 4
• Pages: 391-400
• Keywords: Energy efficiency; Gulf Cooperation Council; renewable energy; renewable energy investment; renewable energy policy; transition to renewable energy
• Public URL: https://nottingham-repository.worktribe.com/output/3786254
• Publisher URL: http://www.rericjournal.ait.ac.th/index.php/reric/article/view/1823
• Related Public URLs: www.rericjournal.ait.ac.th
• Additional Information: Saad Darwish, Hafez Abdo and Wael M. Alshuwaiee, Opportunities, Challenges and Risks of Transition into Renewable Energy: The Case of the Arab Gulf Cooperation Council, International Energy Journal, 18 (2018), 391-400.