MUSCAT: The Ministry of Energy and Minerals has introduced a new policy, the ‘Renewable Energy Use Policy for Self-Generation and Direct Sale,’ aiming to liberalize the electricity market. This significant policy shift will enable private individuals and businesses to generate their own renewable energy and sell any surplus directly to the grid. The primary goal is to increase the use of renewable energy sources such as solar and wind, thereby promoting sustainability and reducing the nation’s dependency on fossil fuels.
The policy is expected to offer numerous benefits, particularly in empowering local communities and fostering innovation within the energy sector. By encouraging self-generation, Oman can reduce electricity costs for consumers and create opportunities for new businesses involved in the renewable energy industry. Furthermore, the liberalization of the electricity market is a crucial step towards meeting Oman’s national energy goals, which include a substantial increase in the share of renewable energy in the national grid by 2030.
The new policy also introduces regulations that will make it easier for individuals and organizations to connect their renewable energy systems to the grid. This initiative aims to stimulate private investment in green technologies and support the government’s broader vision of diversifying the economy. It will also help position Oman as a regional leader in clean energy, which aligns with global trends towards energy transition and sustainability.
As the world increasingly shifts towards greener, more sustainable practices, Oman’s move towards a renewable energy market is timely. The new policy provides a clear framework for the development of renewable energy, ensuring that both small-scale and large-scale renewable energy producers can participate in the energy market. This move is expected to significantly contribute to reducing the carbon footprint and driving forward the nation’s commitment to achieving a sustainable energy future.
