Abu Dhabi newspaper points out renewable energy costs and trends.
That renewable energy is good for the environment we have known for a long time, and it’s becoming cheaper as well. An article The National, a newspaper based in Abu Dhabi the United Arab Emirates, outlines some of the dramatic changes in cost of production of renewable energy have undergone lately. Abu Dhabi is the capital of the United Arab Emirates and controls the seventh largest proven oil reserves in the world the country, but it is no stranger to renewable energy.It is home to both the Masdar City project, and the International Renewable Energy Agency IRENA, a United Nations affiliated organization “dedicated to facilitating the rapid development and deployment of renewable energy worldwide.”
The National takes one example from the solar panel sector to show the rapid development that the industry has gone through, pointing out that in 2008 when Abu Dhabi decided to launch its first large scale solar power plant the cost was $50 million. However today a mere 18 months later, the cost would be 40 percent lower. This was made possible by an increase in production capacity for both raw materials and solar panels according to the article that also states:
“So it goes in the renewable-energy industry, where the tens of billions of dollars of investment coursing through the sector and government policy changes can transform economic calculations overnight.”
Good winds don’t come easy
The article also points out that wind power might be the most mature of all renewable energy sources; and that last year the global production capability grew by 31% adding an extra 38,000 MW; a greater economy of scale are expected to cut the cost by 10% but the industry is facing a tough challenge as the best winds that blow out at sea are the most hardest and most expensive to harvest, due to higher construction and maintenance costs.
Alternatives to Oil
A third category where alternative energy prices are heading in the right direction are biofuel and electricity as an alternative to gas for cars, but as Green Prophet has pointed out, most alternatives like the Tesla Roadster EV are still out of most consumers’ reach.
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