More Solar Price Erosion – Abu Dhabi 2 GW, 1.24 Eurocent/kWh
EDF-France and Jinko-China (panels) won the bid for a new 2 GW solar power plant in Abu Dhabi, to be operational in Q2-2022, for a record low price: 1.24 euro cent/kWh.
The price of “raw electricity” from the desert is no longer relevant as a share of end user price of a stored kWh on world markets. Solar electricity from the desert is almost “too cheap to meter”. Once the international community has a good storage mechanism in place, most likely hydrogen or some derivative, nothing will stand in the way of a total victory of renewable energy in the 21st century.
Sunlit places like Arabia, Africa and Australia will have the perfect solar conditions to become the world’s most prominent hydrogen suppliers. Ironically, especially Arabian countries could play a key role and use their current oil wealth to create the conditions for the continuation of their prosperity into the future and contradict Sheikh’s Rashid bin Saeed Al Maktoum famous line:
My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel
[pv-magazine.com] – Abu Dhabi’s 1.5 GW tender draws world record low solar bid of $0.0135/kWh
[wattisduurzaam.nl] – Goedkoopste zonnestroom nu in Abu Dhabi: 1,24 eurocent/kWh
[reneweconomy.com.au] – Stunning record low bid of US 1.35 cents/kWh wins Abu Dhabi solar auction