Intersolar Europe and the Intersolar Europe Conference shed light on the solar markets of the future
Munich, May 29, 2012 – As in many global markets, solar energy is on the rise in coun-tries across the MENA region (Middle East and North Africa). This has pushed economic developments ahead of policy developments: While some countries are currently work-ing on incentive programs for the future, rising energy prices are already boosting the profitability of renewable energy. Investment in solar energy is particularly worthwhile for countries dependent on oil and gas imports, such as Jordan or Morocco, or states that use large quantities of their own oil reserves for power generation, such as Saudi Arabia or Kuwait. The climate of optimism surrounding the industry is reflected in the numer-ous large-scale projects, such as the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, which is currently at the planning stage. Once completed, the solar park is ex-pected to provide one gigawatt (GW) of power. From June 13−15, 2012, the world’s largest exhibition for the solar industry, Intersolar Europe, sheds light on the markets, trends and technologies across the industry worldwide. The accompanying Intersolar Europe Conference from June 11−14, 2012 consolidates exhibition topics and creates a platform for international exchange. An all-day conference session is dedicated entirely to solar developments in the MENA region.
The recent study from the Emirates Solar Industry Association (ESIA) and PriceWaterhouseCoopers (PwC) management consultants entitled Sunrise In the Desert gets to the heart of the current situation. With oil prices in excess of US$80, photovoltaics is competitive with fossil-fuel power generation in most countries in the region. The international price of crude oil has even lingered over the US$100 mark for some time, which has already given photovoltaics a strong upper hand in many applications. Off-grid solar installations in remote areas, for example, are even more efficient and cost-effective compared with grid-connected installations. These are clear signs pointing to growth in the region’s solar industry.
Solar industry gain support from politics and industry
Faced with an increasing electricity demand driven by dynamic economic growth and energy-intensive industries, the MENA region could catch up with leading solar markets such as Germany, Italy and the USA by 2025. And the potential is vast: With solar irradiation reaching well over 2,000 kilowatt hours (kWh) per square meter per year, the solar energy yield is almost double that obtained in Germany. Furthermore, photovoltaic power plants, in particular, can be planned and built in significantly less time than many other types of power plant, meaning that solar energy also accommodates rapid economic growth.
Governments have now recognized the opportunity which solar energy generation holds for the region and the future of the energy supply: Dubai and Saudi Arabia are expected to pass comprehensive solar legislation in the next six to twelve months, according to Vahid Fotuhi, Co-Founder and President of ESIA. Abu Dhabi, Jordan, Kuwait and other MENA countries are expected to follow suit over the next year or two. Morocco is already one step ahead, having established the Moroccan Agency for Solar Energy (MASEN) over a year ago. According to Fotuhi, this optimistic atmosphere is hardly surprising: “Solar energy translates to economic growth in the region. Studies show that the gross domestic product increases by US$600 million per 100 megawatts (MW) of solar capacity installed.”
