In the current situation, western nations are scrambling to secure energy stocks, whereas demand falling to the Middle East to supply, leading to surging oil and gas prices that have created a seller’s market the world has never seen. However, nobody believes this will reverse the universal trend of discouraging countries from hydrocarbon-based fuels.
Accordingly, there is a need for speediness in the global energy transition to green energy. The scientists are warning that it’s ‘now or never’ if we want to reduce the warming of the Earth to 1.5 degrees.
With global investments in green energy, green finance vehicles and carbon capture technologies are on the rise, it’s clear that the energy shift remains highest in the minds of everyone.
Solar milestones and breakthroughs
Bahrain increases solar manufacturing: Currently capacity of Bahrain’s solar generation is too small to counter demand in the state where gas dominates its domestic energy mix. As reported, Bahrain’s oil reserves may run dry within the next decade, therefore, energy provision is essential. Bahrain's first solar panels company, Solar One, has increased its capacity to 60,000 solar panels annually. These are mostly sold to Bahraini homes or factories and schools to boost native renewables.
Saudi Arabia – Demonstrating study displays solar panels could upsurge rainfall in arid areas: Solar panels absorb sunlight and create solar energy, their temperature rises. King Abdullah University of Science and Technology’s research team have theorized that with a large solar installation, their combined heat may change the reflectiveness of the land to strengthen sea breezes that would intensely increase rainfall in the surrounding area. If proven, it may boost the attraction of creating large-scale solar installations, as they would produce green energy while also creating much-needed freshwater supplies.
Saudi Arabia – 1GW of solar investment packages awarded: Saudi Arabia is accelerating the deployment of new solar projects. Together, the latest round of tenders includes the 80MW Layla, 20MW Wadi al-Dawassir, and the massive 700MW Al-Rass solar PV IPP. Investment in the largest proposed facilities is estimated to be over $453 million.
Dubai – New tracker technology boosts solar production up to 30%: Dubai’s Mohammed bin Rashid Al Maktoum Solar Park is the biggest single solar installation in the world. It is expecting a productivity bump of 30%. Currently producing 900MW annually, its planned total capacity is set to reach 5,000MW by 2030. The use of the latest photovoltaic bifacial technology together with a machine-learning-based software algorithm makes it easy for solar panels to track the sun and automatically position themselves to harvest the most sunlight possible.
California – Next-gen solar cells may make batteries obsolete: Ambient Photonics and other key players, believe that new one-inch solar cells may permanently replace batteries. The innovative class of dye-sensitized solar cells (DSSCs) are capable of powering even in indoor light conditions. If their efficiency and reliability levels are proven to be sufficient for widespread use, this may remove the problem of waste associated with disposable batteries.
ME Solar is to set progress for next five years
Even in contradiction of the framework of surging oil and gas prices, the future of solar looks brighter than ever. Current events make it plain that hydrocarbons will remain a necessary part of the world’s energy mix for decades to come, while also highlighting the dangers of over-reliance on them.
The worldwide energy transition has set its way for overpowering both challenges i.e. political and environmental associated with energy. Energy demand is continuously increasing worldwide, and the Middle East is ready to accelerate as a net exporter of solar energy.
