For the third time in a decade, solar energy pricing records are tumbling in the Persian Gulf. As each previous wave of new records was met with incredulity, only for these prices to become the new normal around the world within a few years, it would be unwise to once again dismiss low prices as unrepresentative outliers.
Over the last several years, the oil-rich Persian Gulf region has emerged as a global leader in photovoltaic deployment and pricing.
At the time of our original study on solar energy costs in the GCC region, the largest active utility-scale solar plant was the 200-MW project forming phase 2 of Dubai's Mohammed bin Rashid Al Maktoum solar park (henceforth MBR2).
The steady year-on-year declines in CapEx and LCOE suggest learning behavior typical of mass-produced goods. Learning curve analysis has proven effective at projecting the price evolution of photovoltaic module manufacturing in a way that bottom-up analysis has not and is increasingly being extended to system-level analysis.
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Key cost metrics including CapEx and PPA price are made public for most projects in the region. These values are tabulated for all utility-connected projects over 100 MW in Table 1, along
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Key cost metrics including CapEx and PPA price are made public for most projects in the region. These values are tabulated for all utility-connected
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