Middle East Solar Manufacturing Boom Imminent Say Industry Experts

solar, Saudi Arabia, Qatar, United Arab Emirates, Middle East solar, solar boom, China, flooded solar market, solar energy, solar power, renewable energyEnergy industry experts are predicting a new solar manufacturing boom next year after an extended slump, and they claim that the Middle East is ranked among the top three leading markets in the industry.

After China went on a massive photovoltaic-making binge, their generic panels flooded the global market, prices plunged, and many businesses in the United States and Europe could not compete.They consequently lost a lot of money, got mad, and walloped solar manufacturers with tariffs.

That malarkey seems to have settled itself, solar manufacturers are bouncing back, and the Middle East, Africa and South America are expected to grow the fastest, Colorado-based industry research group, IHS inc. predicted in a recent report.

Of course, these nations have further to climb so it’s no great revelation that their growth will outpace more established solar markets, but at least there appears to be a strong consensus in the Middle East, Africa and South America that anyone who bets on coal or gas now will land up on the wrong side of natural history.

Climate change is imminent. So are: drought, starvation, and greater political instability, and a host of other unforeseen consequences of pouring more and more greenhouse gases into the atmosphere.

Saudi Arabia alone is betting $109 billion on solar energy and plan to derive a third of their electricity from clean sources by 2032, reports Quartz. The Kingdom isn’t messing around. They still want to sell off their oil and rake in riches, but at home they’ll live off the sun.

Smart move.

Perhaps the greater danger is this: if we don’t hurry up and get a lot of solar and wind on board now, we are going to grow ever more desperate. When this happens, and probably it already has, we won’t care where it comes from. Let’s just pretend we’re not there yet.

Now for an antidote to that bleak note, here’s the sunny side from Quartz: “Overall, spending on the equipment for making solar panels and on other capital expenditures is projected to increase 30% to $3 billion in 2014.”

Qatar needs a lot of solar technology to prepare for the 2022 World Cup, Saudi obviously does, and the United Arab Emirates has a healthy appetite as well.

Once governments sort out kinks in the incentives program (needed to attract international investors), prepare for the solar mayhem.

:: Quartz

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5 thoughts on “Middle East Solar Manufacturing Boom Imminent Say Industry Experts”

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  2. Øyvind Solås says:

    @Aviva Weisgal

    “When will the underpaid, hard working 99% of us get a chance to invest their few pennies in order to make a few bucks?!”
    – The way the market works, not likely ever. But what are you waiting for? Nobody is going to come knocking with green and profitable proposal – you have to look them up.

    If starting up your own company in the booking industry is outside your financial reach, a more certain way of “staying on the right side of natural history” and make money on your investments is to put your savings in a “green fund.” Not sure they have them in Israel yet – I imagine Leumi and other Israeli banks are miles behind Europe in that regard, but there are examples of investment funds, open to the “small scale saver,” that are being managed by the principles of “Green investments are good investments in the long term.”

    But as far as a possibility of ” investing their few pennies in order to make a few bucks?!” – Well, probably never. But if you have a current portfolio, or the financial room for maneuver to establish one, there are promising green options available, at low thresholds.

    http://www.storebrand.no/site/stb.nsf/Pages/hovedsidecorporateresponsibility.html – Storebrand’s “Flagship sustainability fund.”

    1. Normally I’d spam a comment like this, but it’s an interesting and thoughtful response, and I appreciate it. Thanks!

  3. Thanks Aviva. I like the new EV model in Israel promoted by “Captain Sunshine”… seems like an opportunity for the little guys and gals to make a difference, no?

  4. Aviva Weisgal says:

    Gotta love that line.., sort of, kind of:
    Let’s just pretend we’re not there yet.

    When will the underpaid, hard working 99% of us get a chance to invest their few pennies in order to make a few bucks?!

    I’m sure there would be many who would ‘gamble’ on green alternatives, if they were given the opportunity!

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