Solar will become cost-competitive with conventional power generation in some countries within five years, the International Energy Agency (IEA) says.
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But the technology will remain uncompetitive in the UAE as cheap natural gas and subsidised electricity undermines the business case for deploying solar, experts say.
Decreasing prices for solar photovoltaic (PV) panels will make them a viable alternative in countries where conditions for weather and climate conditions are optimal, and electricity is sold at a high price, such as the US and Italy.
Prices for PV panels have dropped by about half as the price of silicon, a material used in the panels, has fallen dramatically over the past three years.
This trend is likely to continue with strong growth in panel production, helped by China's ambitious renewable energy targets of building a capacity of 20 gigawatt by 2020. The IEA estimates that for every doubling of global capacity, the price of PVs will drop by 19 per cent.
Cheaper solar power will be important in increasing the share of renewables, a development the IEA believes needs to be speeded up if power generation is not to be locked into carbon-intensive technologies over the next 25 years.
"Deployment still needs to be stepped up immensely. Without an urgent and radical change in policy direction, the world will be locked into an insecure, inefficient and high-carbon system," said Maria van der Hoeven, the executive director at the IEA.
Instead, the share of renewables in the global energy mix has to quadruple to 47 per cent of total capacity by 2035, the IEA said.
In the UAE, solar power will not achieve price parity with fossil fuel in the near future, unless seasonal shortages mean the natural gas is bought as liquefied natural gas (LNG) at international prices, said Vahid Fotuhi, the chairman of the Emirates Solar Industry Association.
"Overall, solar is not yet comparable in cost, but during the peak load it can become competitive," he said.
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Copa del Rey final
Sevilla v Barcelona, Saturday, 11.30pm (UAE), match on Bein Sports
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
COMPANY%20PROFILE
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RESULT
Deportivo La Coruna 2 Barcelona 4
Deportivo: Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')
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SPECS
Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now
The specs
Engine: 3.9-litre twin-turbo V8
Power: 620hp from 5,750-7,500rpm
Torque: 760Nm from 3,000-5,750rpm
Transmission: Eight-speed dual-clutch auto
On sale: Now
Price: From Dh1.05 million ($286,000)
Killing of Qassem Suleimani
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now