Reuters Analysis: Oil saving win-win drives Saudi solar power boom
"A slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost. Riyadh plans to install 41,000 megawatts (MW) of solar power over the next 20 years, but to date has built only 12 MW - or less than even Britain installed in early May. Despite year round sunshine, the oil and gas rich countries of the Gulf have lagged far behind most of the world in solar power - so far. Saudi energy officials have talked of becoming major solar players for years, but while China built 5,000 MW in 2012 alone, Saudi solar capacity is still insignificant."
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