Middle East: Over 2,000 Megawatts of Solar to Be Tendered in 2016
31 Jan 2016

MESIA forecasts year of growth, lower levelized costs of solar electricity

 

Middle East: Over 2,000 Megawatts of Solar to Be Tendered in 2016 MESIA forecasts year of growth, lower levelized costs of solar electricity The Middle East Solar Industry Association (MESIA) has predicted that the region will tender as much as 2,020 megawatts (MW) of solar energy projects in 2016. The upbeat forecast in the Association’s annual Middle East Solar Outlook, concludes that 2016 will be characterized by increasingly lower levelized costs of solar electricity, as the region’s solar energy market will be spurred on, rather than slowed down, by low oil and gas prices. Noting that solar is cost competitive on an unsubsidized basis, the report points to the economic impact of low hydrocarbon prices on net energy exporting nations, energy market reforms and subsidy adjustments, rising electricity prices, and growing demand for desalination and cooling, as key drivers of the region’s energy transition.

 

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