Solar is now so cheap that one of the wealthiest and energy resource rich countries on earth is investing in it.
The @FT reports on another huge investment in solar in the Middle East. Whilst the UAE has been building huge solar capacity for some years now, this one is in Qatar, which owes its enormous wealth to the huge reserves of LNG it sits on.
This investment will produce electricity at a unitised cost of around 2.5p/kWh, which will make it some of the cheapest new electricity generation infrastructure anywhere in the world.
The more cynically minded might observe that Qatar is simply copying Norway, which sells its oil and gas abroad whilst enjoying cheap renewable electricity it generates at home from thermal power. But Qatar has a huge domestic electricity demand (an awful lot of air conditioning, for a start) and this will make a significant impact on the amount they generate from hydrocarbons.
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