Middle East’s Low Solar Prices Are a Game Changer

The Middle East has long been a huge potential market for the solar industry given the high solar intensity of the desert and the fact that most countries burn oil to supply electricity, rather than exporting it. But until recently, there’s been very little solar development in the region.

Saudi Arabia is trying to change that, recently offering a tender of 300 MW to developers as part of a plan to build 9,500 MW of solar. The low bid of 1.78 cents per kWh from Masdarand EDF Energies was the lowest price ever seen for solar energy and should turn the heads of other countries in the region. If it’s a sustainable price for solar, it would be a game changer for all of energy. If solar energy is this cheap long term, fossil fuels don’t stand a chance.

Read more at The Motley Fool
Photo: First Solar

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