Renewables capacity in the Middle East is set to soar in the coming years, with green energy sources outpacing fossil fuel usage in the power sector by 2040, according to Rystad Energy's latest research. Solar photovoltaic PV is expected to emerge as the predominant source, accounting for more than half of the region’s power supply by the middle of the century, up from 2% last year.
With nearly 40% of its power consumed by a growing residential sector, the Middle East faces surging power demand. This, coupled with the need for economic diversification and freshwater through desalination, underscores the urgency for a transition to renewables. Additionally, the anticipated rise in electric vehicles in the long term hints at a future spike in energy demand, making the shift towards renewable sources not just necessary but inevitable for the region’s long-term sustainability.
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: OilandEnergy - 🏆 34. / 68 Read more »