RIYADH: The Saudi Water and Electricity Regulatory Authority has introduced a regulatory framework for renewable energy systems for self-consumption.
This is a reflection of the energy sector’s efforts to develop regulations that align with and pave the way for the Kingdom’s Vision 2030 strategies and goals for the use of renewable energy.
Within an overarching vision striving towards net-zero, the initiative aligns with Saudi Vision 2030, which aims to reach the optimal energy mix for electricity production from renewable energy sources.
The framework for the self-consumption renewable energy systems was approved after the completion of the organizational and technical requirements by the concerned authorities were met.
The framework will enable consumers to install renewable energy systems for self-consumption, allowing them to utilize groundbreaking renewable energy technologies and provide a contribution to diversifying energy sources and helping Saudi Arabia achieve the optimal mix of electrical energy production.
Saudi Arabia is set to become the world’s biggest green energy producer, according to the chairman of ACWA Power.
Not only will the Kingdom be able to export green hydrogen to the rest of the world, it will also localize the whole value chain in the hopes of creating a real, proper, and sustainable economy that is capable of serving the country on a domestic level, Mohammed Abunayyan told Arab News last month.
In addition to being necessary for environmental reasons, the Kingdom’s renewable and energy transition also plays a role in the creation of more jobs and bolstering capacities and capabilities in line with the country’s industrialization goals, Abunayyan stressed.
Moreover, public-private partnerships are suitable when it comes to efforts to boost renewable energy since they are expected to help with innovation and finance structuring.