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How will Oman's new energy policy affect energy storage?

MUSCAT: A new policy framework unveiled by Oman’s Ministry of Energy and Minerals last week is expected to lend new impetus to the growth of integrated renewable energy capacity, encompassing not only generation and transmission, but crucially, energy storage as well.

Does Oman need energy storage?

Acknowledging the “absence” of energy storage technologies in Oman, notably because of the “high-costs” involved, the new policy nevertheless seeks to enable the deployment of economically feasible battery storage infrastructure and for these attendant costs to be recouped from large consumers benefitting from such investments.

What is Oman's 'electricity self-generation direct sales and Wheeling policy'?

According to experts, the ‘Electricity Self-Generation, Direct Sales, and Wheeling Policy’ – also referred to as ‘New Renewable Energy Policy’ – seeks to underscore, among other key objectives, the significance of electricity storage in achieving Oman’s Net Zero goals.

Why are energy storage investments lagging in the Sultanate of Oman?

Investments in energy storage, while a critical component of clean energy infrastructure, have lagged in the Sultanate of Oman, among other markets around the world, chiefly because of high, upfront capital costs, as well as concerns over energy efficiency.