WELCOME

The researchers calculated that the average price of solar in

March 30, 2017 by James Ashley

The researchers calculated that the average price of solar in the Middle East has been declining steadily over the past decade, and the average price of solar power is falling.

However, solar power has also become less abundant at the lower cost of renewables. In 2011, the average price for solar was $8.50 per watt, compared with $9.99 in 2010. For electricity from solar, the price of a kilowatt-hour was $30.

In addition, the average rate of return on renewable energy investments in the region has been falling; in 2010, renewable energy investment accounted for just 6.5% of the region's resources; by 2012 it had fallen to just 6.5%.

According to the United Nations Food and Agriculture Organization (FAO), the world's sixth-largest producer of oil, demand for renewable energy came from countries like Saudi Arabia, Turkey, and Qatar.

In 2010, the FAO estimated that, in the year 2030, the world's oil reserves would peak at the US$2.2 trillion price tag; in 2011, the price tag would be $3.7 trillion.

This does not include the cost of developing new solar, wind, biomass, and other renewable sources, as well as the cost of building new ones or installing them; those costs can be as low as $70 to $90 per megawatt-hour.