De­clin­ing Costs And Tech­nol­ogy Are Pow­er­ing Re­new­able En­ergy De­mand

Utilities Middle East - - NEWS -

Re­new­able en­ergy sources, no­tably so­lar and wind, are reach­ing price and per­for­mance par­ity on and off the grid, finds a new Deloitte Global re­port,“Global Re­new­able En­ergy Trends.” Ac­cord­ing to the re­port, three key en­ablers—price and per­for­mance par­ity, grid in­te­gra­tion, and tech­nol­ogy— al­low so­lar and wind power to com­pete with con­ven­tional sources on price, while match­ing their per­for­mance. As tech­nolo­gies such as blockchain, ar­ti­fi­cial in­tel­li­gence (AI), and 3-D print­ing con­tinue to ad­vance the de­ploy­ment of re­new­ables, prices will likely con­tinue to fall, and ac­ces­si­bil­ity will im­prove.

“De­mand for re­new­able en­ergy sources has grown tremen­dously in re­cent years,” says Bart Cor­nel­lisen, Man­ag­ing Part­ner, Mon­i­tor Deloitte and En­ergy and Re­sources Leader, Deloitte Mid­dle East. “Gov­ern­ments, com­mu­ni­ties, emerg­ing mar­kets, and cor­po­ra­tions in­creas­ingly un­der­stand that re­new­ables are sus­tain­able and af­ford­able, and they want them in­cluded in cur­rent and fu­ture pro­cure­ment plans. A clear ex­am­ple of this are the in­creas­ing in­vest­ments in large-scale so­lar projects in the Mid­dle East.”

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