MENA region urges to develop robust legal framework to support solar growth
A solid legal framework must be created in order for the Middle East to be considered a global player in the development of solar energy solutions, a leading solar expert has said today.
Dr Michael Kraemer, Senior Associate of law firm Taylor Wessing and a Board Member for the Emirates Solar Industry Association, has called for the creation of a local solar market but warns that in order to build one, the region must introduce the necessary legal structures.
Speaking ahead of his participation in the Solar Middle East Conference Dr Kraemer said, "Investments are made into existing and upcoming markets, such as the Middle East, so a local solar market needs to be created.
"The first step to making this happen is to introduce a solid legal framework which will provide long term visibility and certainty for investors."
Joining a line-up of regional and international solar players who are looking to develop the necessary policies to harness the abundance of sunlight in the region, Dr Kraemer will provide a policy update to conference delegates from his unique legal perspective.
He added, "Ideally, a legal framework would also open up the market for smaller scale, private investors, for example by providing the legal basis for a rooftop solar programme. Most jurisdictions which have tapped into such private investments have developed interesting local solar markets. Mistakes have been made in some countries, but these are useful lessons to be learnt and we now have the chance not to make the same mistakes."
Reflecting a strong focus on the development of solar power facilities, expenditure on solar projects throughout the Middle East is expected to grow by 40 per cent annually until 2017, according market research firm IHS, as the region establishes itself as one of the world's foremost solar markets.
The opening panel session of the conference will discuss the vision, leadership and investment that is driving the region's solar power and renewable energy research and development forward.
Vahid Fouthi, President of Middle East Solar Industry Association, who will offer an exclusive solar industry analysis and MENA market overview, believes the region's solar market will one day become large enough to warrant a "˜home-grown' solar solution, from solar panel manufacturing to system installation and maintenance.
"This will be an evolutionary process and it will not happen overnight. The key will be to establish a sound and stable regulatory framework. If investors have confidence in the long-term growth of the market they will deploy the necessary funds to manufacture locally," he said.
"The best way for local governments to fan this confidence is to put in place sound legislation that outlines how much solar capacity will be deployed, by whom, and in what format. Once this is established everything else will fall in to place. We have seen significant growth in the MENA solar market over the past year. The whole region is sizzling with activity and we are thrilled to see solar finally take off in the Middle East."
