So Much for that Green Energy “Revolution.” Saudi Arabia Cancels $200 Billion Solar Project
Saudi Arabia is scrapping its plan to spend $200 billion to construct the world’s largest solar panel facility in favor of a “more practical” plan. Ordinarily, a country or company scaling back their plans to install solar power would be unremarkable, but this solar project was supposed to be different.
Anti-oil activists, who oppose building newer, safer, oil pipelines and hydraulic fracturing, a technology that has transformed the United States into an energy powerhouse and the largest producer of oil and natural gas in the world, crowed that solar was so cheap, so virtuous, that even Saudi Arabia, which was then the largest oil producer, was getting in on the action.
Turns out it was much ado about nothing.
It’s no wonder the project didn’t pan out. Even though Saudi Arabia is probably a better place to install solar panels than Minnesota, it’s hard to justify spending $200 billion on a source of electricity that can’t produce energy when the sun isn’t shining, i.e. every single night…
Minnesota should learn a lesson from Saudi Arabia’s decision. Although the sun is “free,” converting solar energy into electricity is incredibly expensive. In fact, solar power is 3-4 times more expensive than Minnesota’s existing coal, natural gas, and nuclear power plants, and we would still need these power plants to provide electricity during the nighttime. This means Minnesotans pay twice for electricity they use once.
This is why Minnesota politicians should repeal the solar standard.
Saudi Arabia will continue to burn crude oil, diesel, and gas to generate their electricity for the foreseeable future, and this is true whether they eventually build some solar power, or not.
So much for all the gushing reports cheering Saudi Arabia’s “climate leadership.”