Muscat's energy ministry dropped a bombshell last week: a 40% reduction in storage system subsidies effective October 2024. This policy pivot comes as Oman's lithium-ion battery installations hit 78 MW capacity in Q2 2024 - triple 2021 figures. . The notice outlines subsidy policies for new energy storage, including the following: Independent energy storage capacity will receive a capacity compensation of 0. 2 CNY/kWh discharged, gradually decreasing by 20% annually starting from until. But what's driving this subsidy phaseout, and how can. . But hold onto your solar panels: Muscat is quietly becoming the Middle East's best-kept secret in energy storage. With Muscat energy storage subsidies fueling rapid growth, this sun-drenched nation is turning its arid landscapes into renewable energy goldmines. The Policy Spark: What's in It for. . The energy storage sector, currently in its infancy in Oman, is expected to receive significant impetus from the new policy (Picture credit: Reuters) 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. . The Sultanate of Oman is making significant efforts to implement green energy projects, with Oman Vision 2040 aiming for renewable energy to contribute around 30% of total electricity generation by 2030. Engineer Salim Al Aufi, Minister of Energy, said that five or six new renewable energy projects. . Oman's Ministry of Energy and Minerals has introduced a new policy framework aimed at boosting the integrated renewable energy capacity that encompasses generation, transmission, and energy storage. The initiative seeks to address the lag in investments for energy storage due to high upfront costs. .
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