Intersolar Middle East: Global PV Markets – Are The GCC Ready to Join the Global Solar Market Leaders?

MUNICH–(BUSINESS WIRE)–#CleanEnergy–The global PV demand is still dominated by China. EnergyTrend estimates
its cumulative installed solar capacity to hit 125 GW by the end of
2017. China, the U.S., India and Japan represent 75% of the world’s
entire solar installation capacity for the year 2017. The total global
installed PV capacity will exceed 400 GW in 2018, nearly 1 TW total
installed solar power is possible by 2021. India alone plans to reach
100 GW of PV by 2022.


Are the GCC ready to join the global solar market leaders?

In 2016, the MENAT countries together only reached a total PV capacity
of 3.2 GW, but with an expected installed PV capacity of 32,5 GW by 2022
according to German research company Apricum. This means a tenfold
increase, or an annual addition of 6 GW PV.

A number of impressive PV projects have to be implemented to keep up
with the global leaders. Saudi Arabia is clearly the next
big market. The country keeps its plans for additional 9.5 GW of
renewable energy by 2030. Jordan and Egypt are
on their path and also getting financial aids from international Banks
hoping to complete.

According to former Director of the Fraunhofer Institute for Solar
Energy Systems ISE, Prof. Eicke Weber, financing is the biggest
challenge in the PV sector, “because there is lots of talk, but the
result is a lot of projects are on standby, because of the lack of
financial interest. The other problem is that everyone wants to use
local production, but it has yet to get going, which slows down the
projects”, says Prof. Weber, who will open the second Intersolar Middle
East 2017 conference in Dubai.

With more than 80 representatives from Dubai Electricity & Water
Authority (DEWA), First Abu Dhabi Bank, Abu Dhabi Water & Electricity
Authority (ADWEA), and Bloomberg New Energy Finance, and global players
as ABB and Siemens, the Zayed Future Energy Laureate Prof. Weber
discusses solutions to get a perceivable and influential part of the
global solar share.

www.intersolar.ae

Contacts

Solar Promotion International GmbH
Tina Engelhard
Tel.
+49 7231 58598-207
Mail: engelhard@solarpromotion.com