(MENAFN - Qatar News Agency) A specialized economic report has asserted that the time has come to exploit renewable energy sources efficiently in the Gulf states especially as the establishment of strategic projects depends on the energy availability.
The report, prepared by the Diplomatic Center for Strategic Studies, and carried by KUNA, said that the Gulf States possess many of the sustainable wealth that open up sustainable development horizons for the diversification of income sources and build a competitive economy that attracts more investment in an environment that provides security, stability and good cost-effective revenues for all parties
The report explained that these countries were now facing a significant developmental stage after making significant strides in building the necessary infrastructure as the next phase has become involved in improving aspects of living for citizens and providing job opportunities, training and rehabilitation to increase the productive forces of the national labor market
It pointed out that the growth in local economies is associated with rising energy demand from big economic projects, electricity sector and water desalination and this would raise the consumption bill of the natural gas and fossil fuels on an annual basis in case of continuation of the increasing reliance on these traditional energy-saving sources
It said that the facts require reconsidering development of innovative technologies and solutions in the energy sector in light of the rising consumption of energy, saying that many strategic projects depend on the energy availability
It added that the renewable energy sector is one of the most promising sectors in the Gulf States in light of availability of basic components for its production as these countries are one of the hot areas throughout the year, giving them successful opportunities in the possibility of exploiting that energy properly and that would contribute to meet the needs of the development plans of sustainable sources of clean energy