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Coal has reportedly been unpopular for environmental reasons, but at least it is considered one of
the cheapest energy alternatives.
Now, however, this position of coal is also being challenged
.
Dubai announced on June 27 that the city will build a huge 800 MW solar power plant that will generate electricity at a cost of only 2.
99 cents/kWh, far below the price of
coal-fired power plants.
It is reported that the ultra-low price offered by a consortium led by Masdar Future Energy in Abu Dhabi is the lowest price in the world for solar power plants, and the price is not due to any obvious subsidies
.
According to Bloomberg, the price is a full 50%
lower than what a Saudi company quoted 18 months ago.
At the time, the Saudi company's offer was already at a record low, but it was eventually eclipsed by this lower price
.
That's less than 3 cents/kWh, a third
less expensive than generating electricity from a coal-fired power plant currently under construction in Dubai.
Like the solar power plant just announced, the coal plant is expected to begin operations
in 2020.
Currently, falling solar prices are transforming the power generation industry
.
For many countries, coal is often the cheapest option
for building large power stations.
Hydropower plants are cheaper, but they are not always available, especially in Dubai
, which has flat terrain and an arid climate.
The coal industry often benefits from subsidies, with the biggest subsidy according to the International Monetary Fund being that the industry does not have to pay for sanitation for the pollution it
produces.
The coal industry, which does not pay a carbon tax, is also the single biggest contributor to
the dramatic increase in global carbon emissions.
If coal loses its cost advantage, it will quickly lose its position as
the largest single source of global energy production.
In the global solar panel manufacturing industry, Chinese manufacturers are dominant, and these companies continue to make progress
in photovoltaic power generation efficiency.
The competition in the Chinese market is very cruel, so there is no reason to believe that the pace of innovation of Chinese manufacturers will slow down
.
The project in Dubai is based on traditional photovoltaic technology; And with a newer, more sophisticated so-called "concentrated solar" technology, such utility-scale projects seem even cheaper
.
"Concentrated solar" technology uses giant mirrors to collect the sun's heat, then heat water or molten salt, using a steam engine to generate electricity
.
This process of generating electricity by heating water to drive a steam engine is very similar
to the power generation process of traditional coal or nuclear power plants.
Photovoltaic panels convert sunlight directly into electricity
.
The project in Dubai shows that there is still a lot of potential for PV panels
.
The Dubai project includes the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, part of
Dubai's goal to become the city with the lowest carbon footprint in the world.
The winning bid for this power generation facility project is a
consortium of companies led by Masdar Future Energy.
Masdar Corporation is a government-owned company
in the Emirate of Abu Dhabi, one of the United Arab Emirates.
Other partners include Spanish companies Fotowatio Renewable Ventures and Gransolar Group
.
The power purchase agreement is expected to be signed
in the fourth quarter of this year.
The project is based on the Independent Power Producer model, so it will be built
as a fully commercial project.
Dubai's goal of becoming the world's lowest carbon footprint metropolis is a key component of
the UAE's plan to reduce its economic dependence on oil and gas.
According to the plan, by 2030, Mohammed bin Rashid Al Maktoum Solar Park will have a total of 5,000 megawatts of solar projects with a total investment of 50 billion dirhams (about $13.
6 billion).
In early June, the first phase of a concentrated solar power plant in the solar park was launched, which is expected to have a capacity of 1,000 megawatts
.
Dubai's aggressive development of clean energy is also related to
the fact that the city does not have the large-scale fossil energy reserves that neighboring Abu Dhabi City.
According to Dubai's Clean Energy Strategy 2050, Dubai's share of clean energy will reach 25% by 2030 and 75%
by 2050.
The new project shows that Dubai's ambitious goal is currently progressing very well
.
Coal has reportedly been unpopular for environmental reasons, but at least it is considered one of
the cheapest energy alternatives.
Now, however, this position of coal is also being challenged
.
Dubai announced on June 27 that the city will build a huge 800 MW solar power plant that will generate electricity at a cost of only 2.
99 cents/kWh, far below the price of
coal-fired power plants.
It is reported that the ultra-low price offered by a consortium led by Masdar Future Energy in Abu Dhabi is the lowest price in the world for solar power plants, and the price is not due to any obvious subsidies
.
According to Bloomberg, the price is a full 50%
lower than what a Saudi company quoted 18 months ago.
At the time, the Saudi company's offer was already at a record low, but it was eventually eclipsed by this lower price
.
That's less than 3 cents/kWh, a third
less expensive than generating electricity from a coal-fired power plant currently under construction in Dubai.
Like the solar power plant just announced, the coal plant is expected to begin operations
in 2020.
Currently, falling solar prices are transforming the power generation industry
.
For many countries, coal is often the cheapest option
for building large power stations.
Hydropower plants are cheaper, but they are not always available, especially in Dubai
, which has flat terrain and an arid climate.
The coal industry often benefits from subsidies, with the biggest subsidy according to the International Monetary Fund being that the industry does not have to pay for sanitation for the pollution it
produces.
The coal industry, which does not pay a carbon tax, is also the single biggest contributor to
the dramatic increase in global carbon emissions.
If coal loses its cost advantage, it will quickly lose its position as
the largest single source of global energy production.
In the global solar panel manufacturing industry, Chinese manufacturers are dominant, and these companies continue to make progress
in photovoltaic power generation efficiency.
The competition in the Chinese market is very cruel, so there is no reason to believe that the pace of innovation of Chinese manufacturers will slow down
.
The project in Dubai is based on traditional photovoltaic technology; And with a newer, more sophisticated so-called "concentrated solar" technology, such utility-scale projects seem even cheaper
.
"Concentrated solar" technology uses giant mirrors to collect the sun's heat, then heat water or molten salt, using a steam engine to generate electricity
.
This process of generating electricity by heating water to drive a steam engine is very similar
to the power generation process of traditional coal or nuclear power plants.
Photovoltaic panels convert sunlight directly into electricity
.
The project in Dubai shows that there is still a lot of potential for PV panels
.
The Dubai project includes the third phase of the Mohammed bin Rashid Al Maktoum Solar Park, part of
Dubai's goal to become the city with the lowest carbon footprint in the world.
The winning bid for this power generation facility project is a
consortium of companies led by Masdar Future Energy.
Masdar Corporation is a government-owned company
in the Emirate of Abu Dhabi, one of the United Arab Emirates.
Other partners include Spanish companies Fotowatio Renewable Ventures and Gransolar Group
.
The power purchase agreement is expected to be signed
in the fourth quarter of this year.
The project is based on the Independent Power Producer model, so it will be built
as a fully commercial project.
Dubai's goal of becoming the world's lowest carbon footprint metropolis is a key component of
the UAE's plan to reduce its economic dependence on oil and gas.
According to the plan, by 2030, Mohammed bin Rashid Al Maktoum Solar Park will have a total of 5,000 megawatts of solar projects with a total investment of 50 billion dirhams (about $13.
6 billion).
In early June, the first phase of a concentrated solar power plant in the solar park was launched, which is expected to have a capacity of 1,000 megawatts
.
Dubai's aggressive development of clean energy is also related to
the fact that the city does not have the large-scale fossil energy reserves that neighboring Abu Dhabi City.
According to Dubai's Clean Energy Strategy 2050, Dubai's share of clean energy will reach 25% by 2030 and 75%
by 2050.
The new project shows that Dubai's ambitious goal is currently progressing very well
.