Saudi Arabia Sees Win-Win in Solar Boom

A slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost, reports Reuters News. The country plans to install 41,000 megawatts  of solar power over the next 20 years. “Saudi Arabia is determined to diversify its energy sources and reduce its dependence on hydrocarbons,” said Wail Bamhair, the project manager for the Saudi team that visited the U.S. Department of Energy’s National Renewable Energy Laboratory. “Renewable energy isn’t just an option, but absolutely necessary. We have the means to build renewable energy, and we need to do it,” he noted. Solar panel prices have fallen more than 80 percent over the last five years, because of global over-supply and lower demand in Europe, while average annual crude oil prices have risen by a third, making the sun a very cheap source of electricity for a country that currently burns oil which it could export for over $100 a barrel. Solar has become economical.

Join the swelling numbers of voters TELLING Congress they’ll vote for Clean Energy candidates here: http://signon.org/sign/we-are-the-clean-99?source=c.em.cp&r_by=487176 . This is an ongoing campaign (the next Congressional election is in 2 years!) so please, spread the word. It’s our way of telling Congress that a strong clean energy voting bloc is out there. This is how YOU can make a difference.

 

For more on Climate Change, check out my weekly column at the HuffingtonPost, Climate Change This Week : http://www.huffingtonpost.com/author/index.php?author=mary-ellen-harte

 

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Source

http://www.arabianbusiness.com/saudi-arabia-sees-win-win-in-solar-energy-boom-502687.html

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About melharte

Mel (Mary Ellen) Harte is a biologist (PhD) and climate change educator. She co-authored the free online book, COOL THE EARTH, SAVE THE ECONOMY, available at www.CoolTheEarth.US, and writes the CLIMATE CHANGE THIS WEEK column at the HuffingtonPost. Living summers in the alpine Rockies, she is on the frontlines of watching what climate change can do. Her diagnostic digital photographs of wildflowers have appeared in numerous publications.
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