Morocco is encouraging new investments in renewable energies to reduce dependency on imported energy and trade imbalance

A report on energy efficiency by the Moroccan Center for Economic Conditions stated that the expected increase in demand for electricity could become a significant challenge for Morocco.

The report highlighted that over the last two decades; Morocco had focused on exploration and investment in the energy sector to develop its current energy resources, with particular attention to renewable energies.

Said Mouline, Director of the National Agency for the Development of Renewable Energy and Energy Efficiency, stated that there is an urgent need to change consumer behavior regarding energy use and to encourage adoption of new technologies to reduce energy costs. Mouline added that the use of renewable energy is an irreversible choice to reach usage goals in industry, housing, and public lighting.

Mouline pointed out that mobilizing an energy efficiency program would allow Morocco to bypass compensating energy costs which represent a significant obstacle towards achieving targeted economic growth. The government would save approximately $63 million a year in compensation funds if it implemented its energy plan correctly.

To reduce the country’s energy bill, Morocco plans to increase the share of renewable energies in electricity production to 42% by the end of 2020.

Statistics indicate that the annual energy consumption per capita in Morocco is 0.4 tonnes of compensated oil and that rate is expected to reach 1.1 tonnes by 2030. That consumption level is not much less than the level in many developed countries and, experts said, government policies will have to take into consideration such developments.

Moroccan authorities are exploring new investments in renewable and alternative energies to reduce the country’s dependency on imported energy and reduce potential trade deficits.

Aziz Rabbah, the Moroccan minister for Energy, Mines, and Sustainable Development, urged the use of alternative energies by individuals for health and financial benefits. He indicated that alternative energy use has helped reduce energy costs by 30% through new consumer behaviors, especially with companies that depend heavily on electricity.

Given that Morocco is not an oil-producing country, the Kingdom’s energy policy seeks to reduce the nation’s dependency on traditional energy sources. It has done so by securing energy supplies, protecting the environment, controlling energy consumption and using other sources of energy.

The report reiterated the Kingdom’s interest in developing alternative energy sources, such as solar energy, hydroelectricity and wind power, in addition to establishing systems and laws to regulate the renewable energies sector and encouraging private investments in this field.

Total
10
Shares
10 Like
0 Tweet
Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

DHL Global Forwarding Sets a 6000 Square Meters Hub in Morocco

DHL Global Forwarding, the leading international freight forwarding solutions provider, has signed…

Morocco will raise at least $1 billion from an international bond sale in 2019

The Kingdom of Morocco plans to raise at least $1 billion from…

Morocco Could Lose $100 Million Because of Brexit

According to a recent United Nations study, Morocco could suffer $97 million…

American Airlines Launches Direct Flights to Morocco

American Airlines expands its international destinations and will start its first regular…