Why Gulf Oil Producing Countries Should Subsidize Solar


Solar photovoltaic (PV) would be more economically viable than oil-fired electricity generation in oil-rich Gulf states, Bloomberg New Energy Finance (BNEF) said today.

BNEF's research makes the case it is more profitable for state treasuries to sell the oil on the international markets, while incentivising a switch to solar PV to meet some of their domestic electricity demand. "You have got to value [this oil] at the market value," argued Michael Leibreich, at a press conference

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