Arab states are embracing solar power

  • Date: 08-May-2020
  • Source: The Economist
  • Sector:Oil & Gas
  • Country:Middle East
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Arab states are embracing solar power

The Middle East cannot rely on oil forever. Renewable-energy capacity in the Middle East has doubled to 40 gigawatts (. Solar farms are cheaper, faster and safer to build and maintain than oil and gas plants.. Turbulent Egypt offered to buy solar power at above-market rates in order to attract investors to Benban.. There is also a risk that, in the short term, cheap oil dims countries' ardour for solar power.. Saudi Arabia, for example, might prefer to burn more oil for energy..