Saudi-Arabia 10% Renewable in 2023
Ask people which country they identify most with oil, chances are they will answer “Saudi-Arabia”. Yet this country of 33 million inhabitants has announced that it wants to invest a majestic sum of $30-50 billion until 2023 and realize 10 GW in renewable energy capacity, or 10% share of the overall electricity budget, up from less than 1% now. Even oil champ Saudi-Arabia is investing huge sums of money in oil’s successor. It is difficult to find a better indicator that the end of oil age is in sight.