15 May '12, 2pm

Saudi Arabia Launches Massive Renewable Program with Hybrid FITs via @reworld

In typical Saudi fashion, where everything from oil fields to opulence is done on a colossal scale, the proposed renewable program is gargantuan. Starting from zero, the Kingdom plans to install a staggering 54,000 MW of renewable-generating capacity during the next two decades. For comparison, the United States, with more than ten times the population of Saudi Arabia's 27 million inhabitants, operates about 50,000 MW of solar panels and wind turbines. Peak Oil & Crash Solar Program? While the move to renewables is significant in itself, it raises an even bigger question. Do the Saudis see the handwriting on the wall of the Kingdom's fossil fuel endowment? Are they, for the first time, acknowledging limits? Every kilowatt-hour generated with renewables is a kilowatt-hour that doesn't have to be generated with natural gas or oil, leaving more to sell on the international ma...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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