Solar power pricing in the UAE now on par with fossil fuels

Solar energy pricing in the United Arab Emirates (UAE) is now on a par with fossil fuels, creating new business opportunities across the public and private sectors which is expected to boost renewables in the region, industry experts announced on Tuesday.

Solar photovoltaic module prices have fallen by close to 75 per cent since 2008, according to a recent 'REmap 2030' report published by the International Renewable Energy Agency (IRENA), in conjunction with Masdar Institute and the UAE Ministry of Foreign Affairs' Directorate of Energy and Climate Change.

Solar power, together with other renewable energy sources, could save the UAE billions of dirhams annually while introducing significant health and environmental benefits, the report said.

In anticipation of the growth in solar power across the region, the World Future Energy Summit 2016, hosted by Masdar, has launched the new "WFES Solar Expo", showcasing innovations, and bringing together experts, innovators, suppliers, and buyers for new business opportunities.

Solar Expo will build on the success of the 2015 World Future Energy Summit, which saw 154 exhibiting solar companies in 7,200 square meters, and more than 6,500 solar industry professionals.

For 2016, more than 150 solar companies have already confirmed their participation, including global names such as First Solar and Hanergy.

WFES 2016 will take place at the Abu Dhabi National Exhibition Centre on 18-21 January 2016, and is co-located with International Water Summit, and EcoWASTE.