AT Kearney Says Solar Power a Key Chance for MENA Countries
AT Kearney, the global management consulting firm expects that solar power will become cost competitive in the near future as rising costs for oil and gas make renewable energy sources increasingly attractive.
AT Kearney believes that when looking at energy generation cost and job creation opportunities MENA countries should invest in a solar power energy industry.
Concentrated Solar Power (CSP) will likely become cost competitive in the next 12 months, as oil and gas prices are increasing to oil expected to selling at above 100 US dollars and the costs for CSP technology are sinking due to productivity improvements.
“The cost competitiveness of solar energy will lead to a boom in solar energy on a global basis and represents a unique opportunity for the Middle East,” said Dr. Dirk Buchta, managing director of A.T. Kearney Middle East.
In the past especially European and US suppliers have dominated the solar market. This is currently about to change as cheap Chinese suppliers are entering the market but with low quality products.
This may be the chance for the Middle East which is geographically well positioned to become a future major player. With an average of 310 sunny days per year and a high annual solar irradiance of over 2,500kWh per square meter per annum, the Middle East has more than double the amount of solar energy potential than anywhere in Central Europe.
“The Middle East may benefit from the expected global boom in solar energy through developing its own solar power energy industry supplying its own demand and parts of the growing global demand for renewable energy,” said Christian von Tschirschky, principal, A.T. Kearney Middle East.
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