OPEC Nations Investing in Solar

The WSJ featured an interesting article on September 16 highlighting how Middle Eastern members of OPEC are investing in solar to strengthen their future energy and financial outlooks. The primary example cited in the article is Saudi Arabia. The Saudis recently established a goal of meeting one-third of their power needs with solar by 2032 in order to significantly offset their own oil use (they currently consume up to 10 percent of the oil they produce) and expand exports to oil-dependent countries. In North Africa, Algeria is aiming to do them one better by providing 40 percent of power through clean energy by 2030. While plans among other Mideast nations are more modest, the trend is very clear.

Read the article here.