NewEnergyNews: BRIGHT SUN RISING IN SAUDI ARABIA

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    Friday, November 01, 2013

    BRIGHT SUN RISING IN SAUDI ARABIA

    Ambitious Saudi Arabia Solar Plans Hinge on Capitalizing on Major PV Module Price Reductions

    Oct. 30, 2013 (IHS, Inc.)

    "As Saudi Arabia seeks bidders for its ambitious solar projects, the country stands to benefit enormously from plunging costs for photovoltaic (PV) technology—if the nation plays it smart…IHS Inc. (NYSE: IHS) predicts that Saudi Arabia will install 1,481 megawatts (MW) worth of PV systems from 2013 through 2017…This will make the country the third-largest nation in the Africa and Middle East region in terms of PV installations…[behind] South Africa [31 percent] and Israel [21 percent]… The average selling price (ASP) for solar modules is expected to dive to $0.38 per watt in 2023, down nearly 50 percent from $0.73 in 2012…[F]or Saudi Arabia to benefit from global price reductions its supply chain for modules must be transparent and not overruled by mandates for local content…” click here for more

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