UAE, Saudi Arabia will lead the Gulf market for distributed energy

UAE, Saudi Arabia will lead the Gulf market for distributed energy

The distributed energy market in the Gulf Cooperation Council (GCC) is gathering momentum as declining technology costs, resource availability, and favourable policies encourage customers to self-generate renewable electricity and sell excess to the grid, according to Frost & Sullivan The UAE and Saudi Arabia will lead the market for distributed energy, with Oman set to emerge as the fastest-growing market in the Gulf region, the consultancy said in its latest report on distributed energy rejuvenating the GCC power sector. Oman's Sahim and Dubai's Shams Dubai schemes are driving the adoption of distributed solar photovoltaic (PV) systems in Commercial and Industrial (C&I) environments. In 2020, Saudi Arabia had launched its first regulatory framework for installation of rooftop systems of up to 2 megawatts (MW). The region's total distributed energy market, which encompasses distributed solar PV, distributed wind power, hybrid systems, diesel gensets, and gas gensets, is estimated to garner a revenue of $602 million by the end of 2021 from $480 million in 2020, registering strong double-digit growth at a compound annual growth rate (CAGR) of 25.4 percent. The growth, according to the report, will be driven by the recovery in the diesel gensets market along with strong growth in rooftop