Saudi Arabia solar power auction sets new record

The solar industry has witnessed massive drops in energy prices over the past year, but never as low as the price at which Saudi Arabia may start receiving solar energy. This week, the oil-producing country announced that it has received offers from two solar companies to supply power for as little as 1.79 cents per kilowatt-hour. That beats the previous record for a solar project in Abu Dhabi for 2.42 cents a kilowatt-hour.

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Saudi Arabia solar power auction sets new record

The solar industry has witnessed massive drops in energy prices over the past year, but never as low as the price at which Saudi Arabia may start receiving solar energy. This week, the oil-producing country announced that it has received offers from two solar companies to supply power for as little as 1.79 cents per kilowatt-hour. That beats the previous record for a solar project in Abu Dhabi for 2.42 cents a kilowatt-hour.

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