Renewable energy drive to save GCC members 4 billion barrels of oil
If member states of the Gulf Cooperation Council meeting all stated renewable energy targets, they would be able to save four billion barrels of oil and slash emissions by 1.2 gigatonnes between now and 2030, according to new figures.
The figures, which will be released soon, equate to 25 per cent less annual fossil fuel consumption by the electric power and water sectors in 2030 and an eight per cent overall reduction in per capita carbon footprint over the next 15 years, according to data released by the Abu Dhabi-based International Renewable Energy Agency (IRENA).
According to the data published by the Saudi Gazette, roughly 74 per cent of the projected 69 gigawatts of renewable energy produced in the GCC will be generated in Saudi Arabia alone.
The IRENA figures also indicates that because renewable energy sources, solar photovoltaics in particular, can be less water-intensive than fossil fuel technologies, achieving targets would cut consumption by 18 trillion litres – or 20 per cent – of water annually, and generate nearly 130,000 direct jobs each year from now until 2030.