Oman’s Ministry of Energy and Minerals has introduced a new policy framework aimed at boosting the integrated renewable energy capacity that encompasses generation, transmission, and energy storage.
The initiative seeks to address the lag in investments for energy storage due to high upfront costs and energy efficiency concerns. Experts emphasize that storage is crucial for a constant energy supply, grid reliability, and scaling renewable capacity.
The Electricity Self-Generation Direct Sales and Wheeling Policy or New Renewable Energy Policy highlights the role of electricity storage in achieving Oman’s Net Zero objectives. Defined as the conversion and reconversion of electrical energy for storage and subsequent use, the policy aims to encourage economically feasible storage solutions.
Two categories of developers stand to benefit from this new policy. The first group, Self-Generators, involves developers with renewable energy capacity projects designated for personal consumption. The new policy allows these self-generators to establish, own, and operate electricity storage equipment when economically viable. The second category includes developers who can invest in renewable energy for large consumers through Direct Sales, allowing a broader implementation of energy storage solutions.
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