A new low

Yup and it is not a bad thing, but a setting of happy happy joy joy. I learned a few hours ago that Saudi Arabia (of all places) was mentioned (at https://renewablesnow.com/news/saudi-arabia-claims-record-low-wind-cost-in-4-5-gw-renewables-awards-1283966/) with ‘Saudi Arabia claims record-low wind cost in 4.5 GW renewables awards’ not the Netherlands, or Sweden (where stormy winds are king) it is the Kingdom of Saudi Arabia that is heralded as the new low in wind power. I have to admit that it took me by surprise. The mention of “a record-low global cost for wind power generation at USD 13.38 (EUR 11.49) per MWh” for the people in Saudi Arabia. That makes a setting of €0.01149 per kWh (if I calculated that correctly) is is one way to put down the living expenses of people all over the planet and when you consider that in Europe (EU) the price of electricity is approximately €0.1899 we can assume that even at 50% the electricity firms will still make a profit. As I see it, good news for all the people in Europe (and a few more places beyond that) and I never expected that the land of oil would set the charge of renewables, not in my lifetime. So we should see the joy on what Saudi Arabia achieved here. We are given “The government-owned entity, which is responsible for procuring electricity from independent power producers (IPPs), said on Monday that the initiative is part of the sixth phase of the National Renewable Energy Programme, supervised by the Ministry of Energy. The contracted projects are spread across four provinces in the Kingdom and represent a combined investment of more than SAR 9 billion (USD 2.4bn/EUR 2.06bn)” as well as “The wind project, the 1.5-GW Dawadmi in Riyadh Province, has achieved the lowest leveled cost of electricity (LCOE) for wind power generation so far, according to the statement.” So a hip hip and a hurray for the people who made that happen. Because that is the kind of achievement that could help over a billion people getting their expenses down and the setting that we might see a 50% less costs on energy is a new threshold for anyone requiring power. The article also shows a table of the 5 places where this is happening and how much is being generated. As I see it, the wind-farms currently being created might see a revisit from new people with additional insights in this strength of the energy woods and I reckon we will see a lot more additions in a few places soon enough drowning costs for people all over the world.

I feel giddy at this point. It is not often that you see an impressive downing of the cost of living, but this is definitely one we all should applaud.

Have a great day today.