THE FUTURE OF SOLAR INVESTMENTS IN MOROCCO

Abstract

This thesis offers a thorough examination of the potential for solar energy investment in Morocco, with a focus on the country's current state, political landscape, technological advancements, and the socioeconomic and environmental effects. It also explores the future trends in the country. The investigation Starts by identifying and assessing the regions in Morocco with the greatest solar radiance. According to the analysis, the southern and eastern regions of Morocco receive an impressive average yearly solar radiance of 2200 kWh/m 2 . This makes these areas extremely well suited for both PV and CSP technologies, making them ideal for large scale solar projects. In addition, the study investigates the variations in solar insolation across different geographic regions, taking into account various factors such as annual rainfall, climatic zone, TOA, and solar potential. In relation to the solar politics in Morocco, the research investigates the government's policies and incentives. These include a goal of achieving 52% renewable energy by 2030, with solar energy accounting for 20%. Additionally, the establishment of the Moroccan Agency for Suitable Energy (MASEN) and the Research Institute for Solar Energy and New Energies are examined as regulatory agencies for renewable energy projects. The study also explores potential future policies, such as improving grid integration and implementing green financing mechanisms, which could potentially enhance solar energy investment in the country. The thesis explores the technological advancements that are shaping the future of solar energy in Morocco. It delves into key areas such as improving solar panel efficiency, integrating advanced energy storage systems like battery energy storage and thermal energy storage for concentrated solar power (CSP), as well as incorporating smart grid technologies to optimize the distribution and utilization of solar-generated electricity. An analysis is conducted on the socioeconomic and environmental impacts of solar energy development in Morocco. Research indicates that the energy sector has the potential to generate around 163,000 new job opportunities, with a specific focus on solar and wind energy. In addition, the implementation of sustainable energy sources such as solar power has the potential to boost Morocco's GDP by 1% by 2030 and significantly decrease greenhouse gas emissions. Morocco aims to achieve a 45.5% reduction in CO2 emissions and eliminate the use of oil by 2030. It is projected that the Noor Ouarzazate solar complex will significantly decrease CO2 emissions by 760,000 tons annually by 2030, according to MASEN. The thesis also delves into the updated solar policy framework in the country, highlighting its goals of achieving 80% renewable energy by 2050 and installing 6000MW of solar capacity by 2030. It also examines the regulatory structures, incentive programs, and strategies aimed at reducing dependence on fossil fuels and attracting more investments in solar energy projects. The study analyzes the practicality of these policies, taking into account economic sustainability, technological progress, environmental effects, and infrastructure improvements. Lastly, the thesis wraps up by delving into the upcoming developments in solar energy. With the integration of artificial intelligence to forecast renewable energy, the generation of green hydrogen, and ambitious plans for exports, the country is also focused on developing hybrid energy systems and implementing decentralized solar solutions. These findings offer valuable guidance for policymakers, investors, and the solar energy industry as they navigate Morocco's renewable energy landscape.