News Feed Item

Saudi Arabia Offers One of World's Lowest Solar Energy Costs

RIYADH, Saudi Arabia, August 11, 2014 /PRNewswire/ --

Solar PV Power Will be Cheapest Energy in the World by 2020 

Solar power costs have fallen dramatically over the last five years, thanks to lower module prices, lower balance of system costs, and increased competition at the development and EPC level. Financing costs have also decreased as investors recognize the low-risk profile of solar assets. As a result, solar power is now cheaper than most alternative power sources.

"For systems with the right economies of scale - 10 MegaWatt (MW) and above - solar power can now be generated at between US$70 and US$100/MWh. That price is more than four times lower than in 2009," says Thierry Lepercq, founder and president of France-based Solairedirect, a world leader in the development of large photovoltaic (PV) power plants with low levelized cost of energy (LCOE).

Within this price range, Saudi Arabia could offer some of the lowest LCOE levels, according to Lepercq, who will be speaking at the second edition of Desert Solar Saudi Arabia conference that will be held from 17-18 September. In particular, he will explore the business case for utility-scale solar plants.

Building on the success of the first Desert Solar conference held last year, the event is once again gathering distinguished stakeholders in the Saudi Arabian solar energy market, hosting more than 150 decision makers from across the industry.

The panel of speakers will include executives from Air Liquide MENA, E.ON, King Abdullah University of Science & Technology (KAUST), and Tokyo Electron Taiwan, as well as Skypower Fas Energy, Solairedirect and First Solar.

"Today in Saudi Arabia, it is possible to reach a solar LCOE of between US$70/MWh in the higher irradiation/elevation areas in the western part of the kingdom, and around US$90/MWh in the Gulf area," reveals Lepercq.

With such competitive costs, the Saudi solar market has been growing steadily. Earlier this year, Solar Frontier completed the 1 MW CPV power plant at the Nofa Equestrian Resort, near Riyadh. And in the next few months, Saudi Aramco's KAPSARC II project that will extend their existing solar plant from 3.5 MW to 5.3 MW should also come online.

"Recent developments in Saudi Arabia, such as the interest of local investors in financing PV projects and the growing amount of traction that EPC companies are gaining, are a clear indication of the Kingdom's potential to evolve into a sustainable solar energy market," said Dr. Raed Bkayrat, Vice President for Saudi Arabia at First Solar, a leading global solar energy solutions provider with over 9 gigawatts (GW) installed worldwide.

"With access to all the critical elements - low-cost finance, land availability, high solar irradiance and locally-based, skilled resources - there is no reason why Saudi Arabia cannot achieve some of the lowest PV levelized costs of electricity in the region," highlights Dr. Bkayrat, who will be sharing insights on solar-powered desalination solutions for Saudi Arabia at the Desert Solar conference. 

In addition, "the local PV manufacturing sector, already under development leveraging KSA's excellent industrial infrastructure, with region-specific PV R&D initiatives at local institutions (i.e. KAUST, KACST), would provide a further boost not only to additional cost decrease but also to increased human capital development in the Saudi solar sector" according to Imtiaz Mahtab, a board member of the Saudi Arabia Solar Industry Association (SASIA).

Further cost reductions can be expected as all cost factors continue to improve, down to US$50-US$70/MWh by 2020, according to Lepercq. By then, solar PV power would be by far the cheapest energy in the world.

The Desert Solar Conference is part of a week-long trade mission offering international solar executives and investors the opportunity to meet with a high-level delegation of Saudi solar stakeholders. The event will be held from 14-18 September, 2014 and is jointly organized in by international solar conference organizer Solarplaza and the Saudi Arabia Solar Industry Association (SASIA).

Note for Press - More info:

About the Saudi Arabia Solar Industry Association 

Abundant solar potential gives the Kingdom of Saudi Arabia (KSA) a unique opportunity to become one of the most energy-advantaged countries in the world. The Saudi Arabia Solar Industry Association (SASIA) is a non-governmental association that strives to make this vision a reality by helping Saudi Arabia and the Middle East realize the full economic and environmental potential of solar energy. The goal is to bring the national and regional solar industry together, transforming the vast solar potential of Saudi Arabia and the Middle East into a commercially- and environmentally-viable solution for our growing demand for electricity. For more information, please visit: http://www.saudi-sia.com.

About Solarplaza International BV 

Solarplaza is a global leader in the organisation of top-level solar PV conferences, seminars and trade missions around the globe. Its mission is to empower the solar industry. The platform http://www.solarplaza.com provides and shares knowledge, networking opportunities and information. Solarplaza firmly believes in a renewable future: a future built upon the power of solar energy. Since the founding of Solarplaza in 2004, the company has organised more than 60 events around the world and built up an extensive network of valuable friends, associates, business contacts and solar experts. For more information, please visit: http://www.solarplaza.com.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service. 

SYS-CON Events announced today that eCube Systems, the leading provider of modern development tools and best practices for Continuous Integration on OpenVMS, will exhibit at SYS-CON's @DevOpsSummit at Cloud Expo New York, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. eCube Systems offers a family of middleware products and development tools that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
DevOps is speeding towards the IT world like a freight train and the hype around it is deafening. There is no reason to be afraid of this change as it is the natural reaction to the agile movement that revolutionized development just a few years ago. By definition, DevOps is the natural alignment of IT performance to business profitability. The relevance of this has yet to be quantified but it has been suggested that the route to the CEO’s chair will come from the IT leaders that successfully ma...
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.