Solar and wind may now be the cheapest sources of new energy supply in the United Arab Emirates, according to a report released today by the UAE Ministry of Foreign Affairs, International Renewable Energy Agency (IRENA), and Masdar Institute of Science and Technology.
Marking the country’s first public comparison of different energy technology costs and potentials, the Renewable Energy Prospects: United Arab Emirates report finds the UAE could achieve a 10 per cent share of renewable energy in its total energy supply – and almost 25 per cent in the power sector – resulting in energy system savings of USD 1.9 billion (AED 7 billion) annually by 2030.
Renewables have decisively emerged from a niche technology to a major component of the energy mix and have been the majority of global power capacity additions for the last three years.
The dramatic technology cost declines we are mapping present a real possibility to move to a sustainable energy future even in the hydrocarbon producers in the MENA region.
The report, developed by Masdar Institute in collaboration with IRENA and the UAE Ministry of Foreign Affairs, leverages local resource expertise and earlier UAE energy modeling efforts. To create a portfolio of renewable energy options and their associated costs for the UAE Masdar Institute, researchers localized an IRENA energy model and applied the results.
ST Staff Writers
This post was prepared by Solar Thermal Magazine staff.