The use of renewable energies is certainly the future that our economic systems will work off. The demand to lower our CO2 emissions is that high that, it has started to spill from the activists over to the businesses. With many big businesses taking action to lower their impacts on our climates.
Big business may be stepping up, however it's not all to do with their moral compasses finally pointing in the right direction. Renewable energy has great potential and many of these large companies would like to get in on the potential gains.
Some of the potential that renewable energy has to offer is not just for business, it also has great potential for the public, given the right approach.
By forming private - public partnerships, constructing investment models that involve the public sector and by new innovations in finance and business models, it could be possible for firms and local communities in the middle east to be both energy users and producers.
Firms and local communities can be both energy users and producers if net-metering or feed-in-tariff is applied for solar and wind energy. Cities and rural communities can manage their own energy as a cooperative or energy-user association. Technological innovations in energy storage may induce shifts in production and consumption patterns and governance.
[Odeh Al-Jayyousi]
Throughout the world there are already innovative business models in play for the green energy sector. These include the (ESCO) A model where an energy provider provides energy to a building owner and (EPC) a model where an ESCO guarantees energy cost savings in comparison to an energy cost baseline. Another business mode is a feed-in tariff scheme where the producer of renewable energy receives payment per unit of energy produced.
Although these are innovative models, there is always space to change, move and evolve further. The feed in tariff options will allow for business and public to work hand in hand in meeting the demands for renewable energy in the middle east.
The middle east has an abundance of renewable resources and with time, will develop good plans to harvest pure clean energy within the public and private domains.
Mr. Jay Jay
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References
Renewable energy in the middle east