Is energy storage gaining traction in the Middle East?

With renewable energy projects expanding across the region, energy storage has started gaining traction. Unlike Europe, North America, and Asia, where renewable energy and storage technologies are well-established, the Middle East remains in the early stages of development.

Is large-scale energy storage a viable option in the Middle East?

Until recently, large-scale energy storage was barely a consideration in the Middle East, where fossil fuels have long dominated power generation. With renewable energy projects expanding across the region, energy storage has started gaining traction.

Is battery energy storage a new technology?

The battery energy storage market has not experienced any significant growth in this region hence it is still seen as a new technology and the costs are relatively high compared to the parts of the world.

Should a MENA energy storage alliance be established?

A report by Arab Petroleum Investments Corporation recommends establishing a MENA Energy Storage Alliance, supported by public-private partnerships, and offering financial incentives like tax benefits and green financing to attract private sector investments.

Why do we need energy storage systems in Australia?

The addition of the energy storage systems would help: Energy Time Shifting: As batteries help to shift the energy for use at a later time and hence Australia is installing it as a solution to store the overproduction of renewable energy during the day and use it at a later time when the demand is high.

How can governments support energy storage development in the GCC region?

The governments in the GCC region could collaborate with energy storage developers to introduce favorable regulations and provide capital investments to support the development of a utility-scale energy storage market and eliminate the financing risk and uncertainty factor for the projects by providing long-term contracts through auctions.