Are solar energy prices tumbling in the Persian Gulf?

For the third time in a decade, solar energy pricing records are tumbling in the Persian Gulf. As each previous wave of new records was met with incredulity, only for these prices to become the new normal around the world within a few years, it would be unwise to once again dismiss low prices as unrepresentative outliers.

Why is Dubai's 900 MW solar tender so low-price?

Most recently, Dubai’s 900 MW solar tender hit another low-price record with $0.0169 per kWh. The continuous drop in costs for solar panels is one of the factors that have contributed to reducing CAPEX of utility-scale projects.

Should you install solar panels on your rooftop?

Installing solar panels on your rooftop is not only good for the environment, but doing so also enables you to take advantage of the abundant sunlight we receive in the UAE and to reduce electricity bills, especially when summer hits.

How much money is invested in solar energy?

The total corporate funding in the global solar sector saw an 11% increase year-on-year at $109.4 billion in the first half of 2019. More than $2.6 trillion has been invested in renewable energy over the past decade.

Which countries will be able to generate 50% of electricity from solar?

The Emirates aims to generate 50% of its electricity from carbon-free sources, driven mainly by solar PV, by 2050. Abu Dhabi, for instance, plans to install 5.6 GW of PV capacity by 2026 and Dubai aims to source 75% of its electricity generation from renewables by 2050. Both have been the frontrunners of the Middle Eastern PV industry.

Which countries are launching solar energy projects?

Projects in the pipeline are now tendered in Oman, Kuwait, Tunisia and countries incliuding Pakistan and Iraq are engaging their first large utility size projects. Renewable energy usage has been growing significantly over the past 12 months. This trend will continue to increase as solar power prices reach grid parity.