The Future Of Solar Energy - 1006 Words

Current analysis by the IFC ranks the MENA region above emerging markets like China and India in market interest for sustainable investment . With the necessities for diversified economies and youth bulges providing an eager labor force, there is certainly room for growth in the region. A study by the International Renewable Energy Agency (IRENA) shows that countries seriously involved with renewable energies can expect significant job creation. In Germany, for example, the numbers were 150,057 for direct employment and 120,533 for indirect . Coupled with the increasing openness of the societies and the political reforms of some of the countries mentioned previously, it would be a beneficial time for those areas to capitalize on the†¦show more content†¦If just CSP alone was utilized to its maximum potential it Figure 1. Concentrating Solar Power in the MENA region, 2011. Source: The World Bank MENA Development Report, Renewable Energy Desalination, 2012. would provide over 350 times the amount of energy the MENA currently requires annually . The primary issue with CSP however, is it carriers one of the highest upfront costs to construct a plant. PV costs are much lower but, utilizing this technology to its full potential would only provide 31% of the regions total energy needs . The other leading renewable energy technologies worth discussing are hydroelectric, wind power, biomass, and geothermal energy. While hydroelectric is one of the leading renewable energy sources around the world, the MENA region is not well suited for this technology; Egypt, Iran, and Iraq are considered the only three well suited for it . Wind power currently garners the most interest in North Africa at the moment but, it is expected that as the technologies improve it can be a viable renewable energy source for the entire region, potentially covering 25% of the MENA’s current energy needs if utilized to its full potential . The biomass potential is v ery low in the region and better suited for small scale endeavors focusing on agricultural waste and municipal waste . Lastly, there is geothermal power which is like CSP in that it has significant upfront costs but in this case, is only really viable in Egypt, SaudiShow MoreRelatedThe Future Of Solar Energy Essay1079 Words   |  5 Pages For many years we’ve used gas and coal as our main sources of energy. These two sources of energy have more than accommodated our needs for power since the early days of electricity. 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