In 2020, GCC renewable energy investment will reach $160 billion

A new report from management consulting firm Strategy & Middle East says that with the right decisions and policies, GCC renewable energy investment will reach $16 billion between 2016 and 2020, with a cumulative investment of $40 billion
between 2016 and 2020.

In 2020, GCC renewable energy investment will reach $16 billion

To unlock the potential of this renewable energy deployment, GCC governments must develop well-planned frameworks and make serious decisions
, the report states.

If the Government adopts an ad hoc approach, the transition to a modern renewable energy system is fraught with risks
.
On the contrary, States must act
quickly and deliberately.

The study shows that the share of renewable energy in global investment continues to increase, with annual investment expected to grow by $130 billion to about $370 billion
by 2020, compared to 2016 data.

From 2016 to 2020, the cumulative total global investment in renewable energy is estimated at $1.
5 trillion
.
However, GCC countries have so far invested little in renewable energy technologies, less than $1 billion
in 2016.
If countries do not create supportive, coherent policy frameworks to promote renewable energy investment, they risk falling further behind other countries
.

Yahya Anouti, head of Strategy & Middle East, said: "GCC countries are well positioned to introduce more renewable energy
.
Governments can influence the timing and trajectory of this change and quickly embark on a path to optimal renewable energy infrastructure development to minimize costs while helping to achieve national economic development goals
with the right policies and decisions.
”

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