Renewable Portfolio Standard from the Perspective of Policy Network Theory for Saudi Arabia Vision 2030 Targets

Abstract

Renewable Portfolio Standard (RPS) is one of the successful policy instruments that is used to support the augmented development of renewable energy in different countries. In vision 2030, the Kingdom of Saudi Arabia (KSA) has set the targets to deploy 58.7 GW of renewable energy (RE) with 40 GW of solar photovoltaic, 16 GW of wind and 2.7 GW other RE sources, paving the way for a low-carbon economy in the Kingdom. Renewable Portfolio Standard (RPS) could be an effective policy instrument for stimulating RE integration, consumption on a large-scale and comprehending the objectives of vision 2030. In this paper, four phases KSA RPS formulation strategy is proposed in which collaborative relationship between different stakeholders like policy and regulatory bodies, professional bodies, inter-governmental bodies, power producer and social network at different levels by using policy network theory (PNT) to analyze the interactive relationship of multiple actors is discussed. This strategy will help KSA to overcome the limitations of the stakeholder’s relationship in RPS formulation and thereby offers significant success for RE deployment in KSA.