ABU DHABI — UAE solar power energy pricing is now on par with fossil fuels, unlocking new business opportunities across the public and private sectors, industry experts announced Tuesday. Solar photovoltaic module prices, as perhaps the best example of renewables' new affordability vis-à-vis fossil fuels, have fallen by close to 75 percent since 2008, according to a recent ‘REmap 2030' report published by the International Renewable Energy Agency (IRENA), in conjunction with Masdar Institute and the UAE Ministry of Foreign Affairs' Directorate of Energy and Climate Change. Solar power, together with other renewable energy sources, could save the UAE billions of dirhams annually while introducing innumerable health and environmental benefits, while also acting to preserve precious existing fossil fuel resources, the report argued. In anticipation of the growth in solar power across the region, the World Future Energy Summit 2016, hosted by Masdar, has launched the new “WFES Solar Expo”, showcasing innovations, and bringing together experts, innovators, suppliers, and buyers for new business opportunities. Solar Expo will build on the success of the 2015 World Future Energy Summit, which saw 154 exhibiting solar companies in 7,200 square meters, and more than 6,500 solar industry professionals. For 2016, more than 150 solar companies have already confirmed their participation, including global names such as First Solar and Hanergy. WFES 2016 will take place at the Abu Dhabi National Exhibition Centre on Jan. 18-21, 2016, and is co-located with International Water Summit, and EcoWASTE. — SG
