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Middle East states move to mine sun: Solar output could exceed 1 trillion barrels of oil annually

A published report by NCB Capital, a Saudi subsidiary of the National Commercial Bank, cited a study by the German Aerospace Centre that estimates the region’s deserts “receive annually average solar energy equivalent to 1.5m barrels of oil per sq km.” The Arabian Desert, which covers an area of 2.3m sq km (900,000 sq mi), would yield the equivalent of 1.1 trillion barrels of oil per year, assuming solar panels were erected on one-third of the available land. The UAE’s recent committment to support 7 percent of its energy needs from renewable sources by 2020 further suggests that other Middle East states, particularly those where shortfalls are reportedly “looming,” may soon follow suit (see full article in Financial Times, via Zawya). From TradeFlow21’s perspective, the commercial opportunities for green industries, including water desalination/filtration, are immediate and immense. For more information on doing business in the Middle East, contact Lew Nescott, Jr. at 203.848.7257.