According to government officials at the UAE Energy Summit in Abu Dhabi , top oil exporters including Russia , Iran and Saudi Arabia , are looking to overhaul domestic energy consumption as they seek energy alternatives to oil and gas . The largest oil companies have made efforts to cut domestic electricity consumption since oil prices tumbled , cutting subsidies , implementing energy conservation measures and encouraging home - owners to install solar panels . Saudi Arabia has set a goal of reducing electricity demand by 50 % by 2021 and in coming weeks , the Iranian government will release new regulations for a new energy conservation target , re - pricing wind and solar and a social cost for carbon to make renewables price competitive with fossil fuels .
According to government officials at the UAE Energy Summit in Abu Dhabi, top oil exporters including Russia, Iran and Saudi Arabia, are looking to overhaul domestic energy policies as they seek energy alternatives to oil and gas. The largest oil producers have made efforts to cut domestic electricity consumption since oil prices tumbled, cutting subsidies, implementing energy conservation measures and advising home-owners to install solar panels. Saudi Arabia has set a goal of cutting electricity demand by 8% by 2021 and in coming weeks, the Iranian Parliament will release draft regulations for a new energy conservation target, re-pricing wind and solar and a social cost for carbon to make renewables price competitive with fossil fuels.