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Study on Renewable Energy Resources, Oman - authority for ...

Study on Renewable Energy Resources, Oman - authority for ...

Renewable Energy Resources in Oman The implementation of Tax Credits and Investment Subsidies would be a matter for the tax authorities in Oman and the Ministry of Finance. However, we recommend the Authority in conjunction with relevant government authorities take steps to implement the following measures: • Renewable energy quotas: the government might require, for example, renewable energy projects to account for X% of total system capacity by 2015. The Authority would then have to ensure that PWP and RAEC complied with the quotas in a cost effective and efficient manner having regard to security of supply considerations and other relevant licence conditions; and • Feed in tariffs: for large scale projects we recommend the Authority develop feed in tariffs to support projects over several stages of development (in the expectation that tariffs in the latter stages of a project would be lower than in the initial stage due to the technology being proven, economies of scale and so on); These measures would, we believe, help stimulate interest and investment in renewable energy projects in Oman. If these measures were implemented in conjunction with existing requirements (competition in tendering, economic purchase obligations and so on) we believe renewable energy projects could provide significant long term benefits to Oman. Feasibility Studies for Large Scale Projects In conjunction with the policy initiatives outlined above, we recommend further feasibility studies for the large scale utilisation of solar and wind energy resources in Oman. In addition to providing further technological and economic justification for large scale projects, these studies would also inform the specification of targets for renewable energy contributions to system capacity. Policy Development Recommendations – Legal issues The study finds that the present market structure and statutory framework of licensing and regulation can, in several limited respects, facilitate small scale renewable energy projects. However, we believe certain changes to the regulatory framework would facilitate renewable energy investment on a wider scale. For example, we recommend that: 1. the Authority review and proposes changes to the existing market rules to allow licensed distribution and supply companies to connect renewable energy projects to their systems and contract for the purchase of capacity and output of such systems. This is not permitted at present (OPWP and RAEC is responsible for the procurement of all connected capacity and output). The Authority would need to ensure economic purchase and security of supply obligations continued to apply. Widespread application of ‘distributed generation’ is a feature of electricity markets in other jurisdictions and has been shown to have a range of benefits in addition to environments benefits; and Page 28 of 133 .

Renewable Energy Resources in Oman 2. we recommend the Authority take immediate steps to specify procedures, technical regulations and standards needed to facilitate the design, planning, connection and operation of small scale and large scale renewable energy projects. This would reduce uncertainty about the scope for implementing renewable energy technologies in Oman, and stimulate interest on the part of potential investors and renewable energy technology providers. In summary, we recommend that the Authority act to remove barriers to the utilisation of renewable energy, whether technical, economic or legal barriers, so as not to hinder policy initiatives that aim to facilitate and promote renewable energy projects. Clean Development Mechanisms We recommend that Oman establish a Designated National Authority (DNA) to facilitate and administer incentives for Clean Development Mechanisms (CDM). This would allow investors promoting renewable energy projects to benefit from cost savings gained through a carbon credit trading scheme. A wind farm, for example, implemented as a CDM project that contributed to reduced carbon emissions by replacing gas consumption would be able to secure a financial benefit equal to the value of reduced carbon emissions (calculated assuming a shadow price of carbon of 25.5 USD/ton). Any such benefit would help to reduce the cost of the wind farm. Arrangements such as these have been successfully introduced in other jurisdictions. Table 2.4 Average cost of renewable energy and potential cost savings from Carbon Trading assuming 25.5 USD/ton CO 2 Renewable Sources of energy: average costs including capital and operating costs Potential cost savings per MWh supplied from Carbon Trading (25.5 USD/ton CO 2 ) USD/MWh RO/MWh RO/MWh Solar PV, small grid connected 425 163.5 5.16 Solar PV, large grid connected 250 96.2 5.16 Solar thermal plant 207 79.6 5.16 PV/diesel hybrid system, 10% solar energy 245 94.2 5.49 Grid connected wind farm 74 28.3 5.16 Page 29 of 134 .

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