Recent improvements in solar power technology are poised to change the long term future of energy even in oil-rich countries in the Middle East. With the price of oil on the way down, major energy producers in this region are now on the hunt for more profitable sources.
The Middle East has been the repository of the richest shale inventories that led to its hegemony over the oil markets of the world. A number of oil producing countries have continually challenged this domination with little success.
However, there is another abundant resource in the Middle East that may finally topple oil from its delicate precipice – the radiant energy from the sun.
Solar power is most feasible when there is an abundance of sunlight. This is why this region has the first-move advantage of all Middle Eastern energy producers because it is in a geographical location where the sun is shining the most.
Middle East could be the the next superpower of solar
Solar power, as all of those involved in the energy industry agree, is the long-term future of energy. Considering the current instability in oil markets, the importance of renewable energies, especially solar, becomes all the more pronounced.
The constant downward slide of oil prices induced the efforts to improve the efficiency of energy production of all producer countries.
For instance, in the United States, oil producers are doing all they can to search or develop energy sources that has the greatest combination of sustainability and efficiency.
The same thing goes with the countries in Europe which are searching for renewable sources of energy in a very aggressive manner. There is also a very strong push for nuclear energy in the UK, as its long-term energy solution.
The global search for the most efficient and sustainable energy source
Meanwhile, the Gulf States are looking to become more energy efficient and self-dependent in a more competitive energy market, and are increasingly turning to solar to achieve their energy goals.
This is despite the fact that the Gulf States are still the biggest oil exporting members of the OPEC, particularly Saudi Arabia. Some of these states eventually will find it difficult to sustain their domestic budgets since they are being forced right now to cut their oil prices just to maintain their market share.
To diffuse the forces that may cause the development of domestic problems, they may turn to other energy alternatives that will provide them the income which is continually being lost from the dropping of oil prices. And solar power is the most feasible alternative source.
Energy developments could see the rise or fall of Middle East energy producers
If left unchecked, these current energy challenges may eventually cause costly consequences for the region. But if they implement vigorous energy reforms and deploy considerable investments in energy alternatives, particularly in solar power, they could weather these challenges effectively.
Leading the charge in this regard is Saudi Arabia which has announced a $109 billion investment plan to install solar PVs to generate one third of its electricity. Likewise, Qatar has also gone into solar energy contracts with major renewable energy companies in fulfilment of its commitments to the Solar GCC alliance.
With its geographical location, the Middle East energy producers has unrivalled solar potential that can make them the leaders in renewable energy production
