Low Cost Renewables Are Creating A New Middle East

8 Jan 2018   Solar

Various countries in the world’s most oil-dependent region, the Middle East, have started to look above ground for generating energy to diversify away from their primary below-ground energy source. Saudi Arabia, the United Arab Emirates (UAE), and Oman, to name a few, have set some ambitious goals to boost the construction of clean energy facilities and the use of renewables in their energy mix in the long term. As global solar and wind costs continue to drop and make those energy solutions increasingly competitive, the Middle East is expected to continue to move ahead with renewable projects this year, according to UAE’s outlet The National . Globally, the levelized cost of electricity from solar PV, which is now nearly a quarter of what it was in 2009, is expected to slide by another 66 percent by 2040, Bloomberg New Energy Finance (BNEF) said in a report in June 2017. […]

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