IEA & IRENA: Egypt's Solar Energy Potential Huge for 2030 Target
The International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA) have both released reports outlining Egypt's renewable energy potential. They recommend a significant increase in solar and wind energy capacity, grid flexibility, and green hydrogen development to meet Egypt's 52% renewable energy target by 2030.
The IEA's 'Renewable Energy Outlook: Egypt' suggests a rapid scale-up of solar and wind energy, along with supportive regulatory reforms. It also emphasizes cost-effective renewable deployment and enhancing grid flexibility through energy storage and demand response. Additionally, it highlights the potential of green hydrogen as an energy carrier for hard-to-decarbonize sectors.
IRENA's report envisions solar becoming Egypt's second-largest energy source after gas. It projects that, under current plans, Egypt will install 9 GW of solar power by 2030. However, it also notes that this could potentially reach 44 GW, indicating significant untapped potential. Egypt is already supporting rooftop PV through net metering and has two new solar tenders in progress. The Reference case projects Egypt's total installed capacity to grow by around 250% to 117 GW by 2030, with solar representing 9 GW. In the REmap case, solar could reach 44 GW by 2030, making it the largest power source after gas.
Both IEA and IRENA reports highlight the significant potential for solar energy in Egypt. To fully realize this potential and meet the 2030 renewable energy target, Egypt is encouraged to pursue supportive policies, increase solar deployment, and consider innovative technologies like green hydrogen. This will not only help Egypt meet its energy goals but also contribute to a cleaner, more sustainable future.
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