Training Seminars 'Renewable Energy & Energy Efficiency as key drivers for Energy Transitions' - Part I - Day 4: Economic & Finance Aspects of Renewables,Monday 29 March 2021,11.00 - 14.00 CET/13.00 - 16.00 GST
Energy efficiency (EE) and renewable energy (RE) are considered as the main pillars for any energy transition. Indeed, renewable energy and energy efficiency provide the optimal pathway to deliver most of the emission cuts needed at the necessary speed. Together they can provide over 90% of the energy-related CO2 emission reductions that are required, using technologies that are safe, reliable, affordable, and widely available.
Renewable energy sources could replace the oil or gas currently used for power generation. Along with averting a major source of carbon-dioxide emissions and reducing dependence on fossil fuels for basic needs, this transition to renewables in the power sector would make oil and gas surpluses available for more profitable downstream applications and export.
Renewables particularly solar and wind energies are increasingly cost-effective for utilities, homeowners, business owners, and their communities. The falling price of solar systems results from improvements in the technology and economies of scale among manufacturers. On the other hand, because renewables systems can be installed in cities, towns, and remote areas, it offers job possibilities for local engineers and technicians. Indeed, according to a recent IRENA’s publication renewables energy technologies creates employment opportunities up and down the supply chain. Worldwide, the sector employed 11.5 million people at the end of 2019.
Energy efficiency measures and technologies, including smart technologies and smart cities, can play a major role to reduce energy intensity and thus emissions. There are solutions available suited for small, medium, and large-scale applications and that can be implemented in different sectors of the economy such as building and Industry. In addition, energy efficiency provides significant co-benefits in terms of job/SMEs creation, revenue generation, interaction with research and innovation, increasing competitiveness and an improvement of companies’ corporate images.
However, a lack of knowledge by the public and private actors and project developers represents a main obstacle for implementing clean energy solutions and projects. To address the competences gaps at local and regional levels, physical and/ or online training seminars should be designed and implemented with the aim to improve the knowledge and competencies of engineers, energy planners, project managers, etc.
In this context, in the framework of supporting EU Oman cooperation in fields of clean energy, the European Union Delegation to the Kingdom of Saudi Arabia, the Kingdom of Bahrain and the Sultanate of Oman, the EU-GCC Clean Energy Technology Network in partnership with the Oman Institute for Oil and Gas are organising a series of training seminars on Renewable Energy and Energy Efficiency Technologies and solutions, in March 2021. The training seminars will be held in 2 weeks (3 days/week). The initiative intends to provide an overview of renewable options and clean energy solutions that are suitable for the region. It aims to help project managers and engineers to identify opportunities for implementing RE and EE actions and projects and give them a background on the key issues to be addressed when developing suitable domestic and industrial clean energy projects including the economic and financial aspects. In addition, a brief description of the available combined RE & EE technologies and concepts used to reduce the increased energy demand in buildings and other sectors will be highlighted.
Part I:Renewables Energy consists of 4 days. The fourth training day is scheduled for Monday 29 March 2021 (11.00 - 14.00 CET/13.00 - 16.00 GST) and the topic is Economic & Finance Aspects of Renewables.
More information is available at the events' webpage.