29 June 2024: “On the economic benefits, Al Baker noted the competitive costs of renewable technologies, making the adoption of renewable energy technologies in Qatar and the region more attractive due to the decreased levelized cost of electricity production. The cost of photovoltaic solar energy has dropped significantly from around 4 cents per kilowatt-hour in 2017 to about 1.5 cents in 2023, with expectations to decrease to around 1 cent per kilowatt-hour by 2030. Similarly, the cost of wind energy has decreased from about 5 cents per kilowatt-hour in 2017 to approximately 4.5 cents in 2023, projected to reach about 4 cents per kilowatt-hour by 2030. The recommended energy mix is expected to reduce the average cost of electricity generation by 15 percent in 2030. Al Baker also mentioned that the strategy will enhance energy security by diversifying energy sources, ensuring the stability of the energy sector. The strategy adopts a balanced approach, combining centralized renewable energy facilities with high-efficiency gas-powered thermal generation.”
Information Service
Costs of Renewable Technologies: Competitive economic benefits
