Egypt could meet more than 50 percent of its electricity demand with renewable energy
Post date: 10/10/2018 - 15:49
Egypt has the potential to generate up to 53 percent of its electricity from renewable sources by 2030, according to a new report by the International Renewable Energy Agency (IRENA). The »Renewable Energy Outlook: Egypt« report finds that pursuing higher shares of renewable energy could reduce the country’s energy bill by up to $900 million annually in 2030.
Renewables could cost-effectively provide up to a quarter of Egypt’s total final energy supply in 2030, says IRENA. Achieving the higher targets would, however, require investment in renewables to grow from $2.5 billion per year based on today’s policies to $6.5 billion per year. Under current plans, the government has set targets to source 20 percent of its electricity from renewables by 2022, rising to 42 percent by 2035. Total installed capacity of renewables in the country today amounts to 3.7 GW.
The report »Renewable Energy Outlook: Egypt« was prepared by IRENA in close collaboration with Egypt’s Ministry of Electricity and Renewable Energy, and the New and Renewable Energy Authority.