A report by Arab Petroleum Investments Corporation recommends establishing a MENA Energy Storage Alliance, supported by public-private partnerships, and offering financial incentives like tax benefits and green financing to attract private sector investments.
However, the growing scale of renewables in MENA's energy mix has exposed grid operators to the challenges of the “duck curve,” a pattern where solar generation peaks during the day but demand surges in the evening. Without sufficient storage, this imbalance leads to wasted energy and puts pressure on traditional power projects to meet peak demand.
Currently, only a few companies have invested in battery energy storage systems (BESS). However, this is expected to change significantly as the renewables sector in the region continues to grow. The region's installed renewable energy capacity reached 32 GW in 2023 and is expected to approach 40 GW by year-end.
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