Saudi Arabia, the world's oil king, is looking to become the king of another resource: solar power.
The Middle Eastern Kingdom has announced a plan to generate 40,000 megawatts, one-third of its power, from solar energy by 2032. Saudi Arabian officials estimate this endeavour will cost US$109 billion to develop.
A consultant at King Abdullah City for Atomic and Renewable Energy said this goal will not only save roughly 520,000 barrels of oil per day over the next two decades, but also will diversify the nation's domestic energy portfolio an create a sustainable solar energy sector.
Due to its geographic location, Saudia Arabia has great potential to develop solar energy. At a recent conference, Shafiq Rahman, a researcher at King Fahd University of Petroleum and Minerals highlighted the potential for the country to become an exporter of solar power due to its abundant resources.
Importing renewable energy is something energy starved nations could increasingly rely on. This growing possibility, for example, has led the European Union to collaborate on the creation of North Africa's immense Desertec solar project.
Currently Saudi Arabia has only 3 MW of installed solar power.
Read the full story at Solar PV Investor: Saudi Arabia, The Land of Plenty for Solar
Image credit: Bakar_88 via Flickr
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