Morocco will have to invest in the region of $30 billion in its energy sector, or risk missing its 2030 target to transition to renewables.
That’s according to the International Energy Agency’s (IEA) policy review, which notes that whilst the Moroccan government has made significant strides in renewables adoption, energy efficiency, integrated markets, local resource development and has established its role in international climate change action, the country now needs to reduce the energy intensity of its economy.
The country also needs to set for targets for the use of renewables in the transport and residential markets, whilst also promoting the reduction of fossil fuel use across all sectors of the economy.
The review also calls for the Moroccan government to take a driving role in the transition to clean energy, and implement gas and power reforms to stimulate private investment in renewables, whilst also bringing a planned regulatory authority on-stream.
The report further suggest that energy efficiency be prioritised by implementing alraeady existing legislation, adopting cost-effective standards, and accelerating the resolution and implementation of a national energy efficiency strategy in line with the 2030 target.
The report also calls for the country to better manage risks of import dependency and work towards a system with more variable renewables, aided by the revision of oil stock-holding policies, the securing of future natural gas imports, and increase the resiliency of the country’s power systems operations.
.The report also states that more funding is needed to help develop technologies that support sustainable water management, heating, cooling and transport, and proposes that the government focus on ensuring good governance and inter-ministerial cooperation so that the planning and prioritisation of the most urgent work is ensured.