Energy & Science
Mideast Petro-States Look Past Oil Rout to Chase Solar Power
- Dubai, Abu Dhabi building solar power plants after record bids
- Pandemic may slow projects but not stop them, WoodMac Says
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Some of the Middle East’s biggest oil producers are pushing into solar energy even amid the rout in crude prices.
Cheap crude used to deter investment in renewable energy in countries that depend on oil sales for revenue. Today, solar projects cost only about a 10th of what they did a decade ago, thanks to more affordable equipment and better technology, according to research by BloombergNEF.