The gist is most of us associate Dubai with OPEC and petroleum but AUE has been doing much to improve its future by pouring resources into its foundation for a more sustainable future.
Things are moving in the Middle East. Abu Dhabi has been pouring billions in alternative energy projects hoping to create a more sustainable future. Dubai will also not be left behind either with new alternative energy project. Could it be that the Middle East is reversing its views on alternative energy? Or is it that maybe after all, they too see the finite end of petroleum? In any case, you can be sure both countries see the incredible financial opportunities in cashing into their abundant natural resource, sunshine.
Case In Point. This Dubai $3.27 billion solar project in a country more known for its crude petroleum production than its natural resources, clearly shows things are changing in the land of black gold. The project will create 1000 megawatt solar park that will stretch over 19 square miles along the Dubai-Al Ain road.
As our friend Randy at SunPoweredEVs wrote, the US only holds 2.2% of the world’s oil reserves and 4.7% of the worlds natural gas reserves. If we are to continue into this new millennia, we will need to seriously diversify our energy sources strategy and tap into our own natural resources. "Amortizing the $3.27 billion cost over the 25 year warranted life of solar panels and making a conservative estimate on how much power will be produced a year by this 1,000 MW solar power system yields a cost of 9 cents per kWh. The average car in the U.S. gets about 20 MPG at a cost of about $4.00 per gallon. An electric car can go 20 miles on about 7 kWh of electricity. At 9 cents a kWh an electric car can go 20 miles for only 63 cents! This is over 6 times cheaper than gasoline. It’s also estimated that solar power will reach cost parity with coal in about 3 years. "
Indeed with numbers like these, it makes it harder and harder to justify sending billions and billions overseas. For more information: http://sunpoweredevs.com
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