MENA solar market to be worth $50b by 2020
Solar GCC Alliance, announced at the World Future Energy Summit, will promote major large-scale solar growth in the Middle East and will see the region become highest wealth solar market in the world
According to a Middle East Solar Industry Association report launched last week, the solar industry in the Middle East is set to be worth $50 billion by 2020.
This makes it the highest wealth solar market in the world, and the Solar GCC Alliance has been launched to help achieve this.
At the World Future Energy Summit, which took place from 20-22 January in Abu Dhabi , a new example of cross-border cooperation was announced: the Solar GCC Alliance. As well as enhancing advocacy efforts, the programme will also improve knowledge transfer to nationals of member states who show a high-potential in energy entrepreneurship.
This is not the first time that there has been cross-border cooperation within the GCC countries. The GCC Interconnection Authority has linked grids across the region, leading to a clear stabilisation of grid supply.
However, the value of the market still depends on large-scale policy programmes in the majority of markets. Without these programmes, major large-scale solar growth is not assured. At present, the photovoltaic market is set to take up a larger share of solar due to a lack of announcements for concentrated solar power in the region.
Concentrated Solar Power could be a very valuable addition to the grid as it is able to supply energy for the evening peak. The desalination and petroleum industries are now looking at solar but the use of this type of green energy in their processes is still in its infancy.
The international solar community is currently waiting to hear about utility-scale opportunities for PV in Qatar, Morocco (pictured above right), Saudi Arabia, Dubai, and Oman.
At MENASOL 2014 (6-7 May, Dubai) a representative from one of the founding members of the Solar GCC Alliance and the Saudi Arabia Solar Industry Association, will be speaking on how to get a foothold into the market. The event will also bring together leading utility companies from the region’s top markets including DEWA, ONÉE, and KAHRAMAA to share their requirements for winning projects and companies.
