REmap 2030: Solar energy paves the way for opening new horizons of business opportunities in UAE

ABU DHABI, 16th September, 2015 (WAM) -- Experts in the energy sector have confirmed that production costs' similarity between solar energy in the United Arab Emirates and its conventional counterparts that rely on fossil fuels, pave the way for opening new horizons of business opportunities within the public and private sectors alike. According to the REmap 2030 report issued by the International Renewable Energy Agency, IRENA, in cooperation with Masdar Institute and Energy and Climate Change Directorate at the Ministry of Foreign Affairs, the prices of photovoltaic, or PV, panels units producing electricity from solar energy have reduced by nearly 75 percent since 2008. The report indicated that solar energy with other renewable energy sources could save billions of Dirhams annually to the UAE regardless of its other endless health and environmental benefits as well as also maintaining precious outstanding resources, i.e., oil and gas. With expectations of significant growth of solar energy in various countries of the region, the World Future Energy Summit 2016, to be hosted by Masdar City in January, will witness the launch of the new "Solar Expo", which will introduce technologies and innovations in the field. – Emirates News Agency, WAM - http://www.wam.ae/en/news/emirates/1395285578579.html