Masdar: 90% decrease in the cost of solar electricity generation in 10 years

Abu Dhabi Future Energy Company «Masdar» reported that the cost of generating electricity from solar energy has witnessed, during the past 10 years, a significant decrease of up to 90%, thanks to the use of modern technologies, and strong competition, especially in markets that witness a growing demand for clean energy, including the market UAE.

In addition, the World Summit for Future Energy concluded yesterday, Abu Dhabi, with 33.5 thousand participants from 170 countries, along with 800 exhibitors specializing in the fields of energy, solar energy, water, waste management and smart cities.

solar energy

In detail, Abu Dhabi Future Energy Company «Masdar» stated that the cost of generating electricity from solar energy has witnessed a significant decrease of up to 90% during the past 10 years, thanks to the use of modern technologies, and strong competition, especially in the markets that witness a growing demand for clean energy, including a market The United Arab Emirates, according to the company's business development director, Youssef Al Ali.

Al Ali told «Emirates Today» that the UAE has extensive experience in the field of producing electricity from solar energy and clean energies in general, as investment in solar energy is witnessing increased growth through increasing the frequency of building stations in all the Emirates Emirates.

He explained that 10 years ago, building an integrated solar system cost five million dollars per megawatt, and today it has become 600,000 dollars, reducing the cost of generation by up to 90%, indicating that this decline encouraged governments and private companies to invest because of its competitive cost, and in line with plans Sustainability around the world.

Wide participation

In addition, yesterday, the World Future Energy Summit, the 2020 session, concluded at the Abu Dhabi National Exhibition Center, amid wide participation of hundreds of exhibitors, and the presence of tens of thousands from across the region and the world, from business leaders, experts, suppliers and buyers, who sought to conclude commercial and exchange deals. Knowledge and experience, and access to the latest innovations and technologies, in the largest event in the field of sustainability and future energy in the Middle East and Africa, with the participation of 33.5 thousand participants from 170 countries, along with 800 exhibitors specialized in energy fields.

Cooperation Agreements

The fourth and last day, yesterday, witnessed a number of sessions and the signing of cooperation agreements, where the Energy Forum held on how to change the two-faced panels and floating panels, considerations of planning and financing for future solar energy projects, in addition to the Smart Cities Forum, which addressed sustainability in the "Expo 2020 Dubai", Where the National Committee for the Sustainable Development Goals revealed the results of the "sustainable development goals" race with the participation of 17 local and federal government agencies and bodies. Reem bint Ibrahim Al Hashemi, Minister of State for International Cooperation Affairs and Chairperson of the National Committee for the Sustainable Development Goals, handed over the prizes to four winning ministries in this race, by proving their worth in working to achieve the sustainable development goals in their field of competence, which is the Ministry of Economy that was dissolved in First place, followed by the Ministry of Infrastructure Development, the Ministry of Energy and Industry in the second position, and then the Ministry of Health and Community Protection.

Al-Hashemi said that the positive and distinguished results achieved by all government agencies participating in this race reflect their eagerness and their full commitment to work and cooperation in order to push development to levels that rise to the aspirations of rational leadership in making a better future for future generations, and the aspirations of our people to reach the first place in all fields .

She added that sustainability is a shared responsibility between sectors and members of society, and through this race we seek to highlight the cooperative approach, which exists between entities, institutions and companies in the UAE, to contribute to strengthening its leading position and its supporting role and contribution to the path of achieving sustainable development goals at the local and international levels.

- The low cost of production encouraged governments and private companies to invest in solar energy.