In recent news there has been a lot of discussion of various announcements coming out of the World Future Energy Summit being held in Abu Dhabi this week. The primary sponsor of this event happens to be Masdar which is owned by Mubadala Investments. Mubadala also happens to be a prime investor in several other “companies” that have dubious ties in the world of global finance and power. The very interesting thing about these announcements is not the number of projects that are being planned but the shear size of the budgets that are being forecast.
There is talk of plans for 48 sq km facilities in Dubai by 2030 generating 1GW of electricity, plans are underway to do similar large scale projects in Oman and Saudi and of course the same companies want to go all the way and install large Photo Voltaic and Concentrated Solar Power installations across the entire MENA (Middle East North Africa) region. These plans are fantastic and forward thinking except for one small problem. The costs for these projects are phenomenally out of bounds. The timescale of the projects are way over what is considered necessary to setup and install a large facility. Considering what has already been spent by these same companies on very mediocre attempts at Solar energy supply there is a serious disconnect between what is required to make industrial scale Solar and what is required to pay for the opportunity of bringing a facility online.
The answer to this mystery appears to be related to the financial crisis and the worlds Fossil Fuel addiction. If Solar energy is priced at the real market value. The true cost of building industrial scale facilities and connecting them to the grid and not the price that is current being forced on the market by the entrenched Oil industry we would see that Solar power is phenomenally cheaper than any of the competing energy sources. In other words the only reason the Solar has not already reached price parity is because the Elite are holding the industry to ransom to prop up the price of the other fuel sources for as long as possible.
The real reason for companies like Solyndra to be going bankrupt is because they were never intended to actually succeed. The entire industry knows full well this dirty little secret. The price of Solar when done correctly and at utility scale is ridiculously low compared to any of the other energy sources. Concentrated Solar power has the potential when combined with Solar Thermal to provide all the energy required for any of the cities that have a regular supply of sunlight. Therefore the entrenched players in the energy industry are quietly but assuredly doing their best to disrupt and stall the transition to the Solar economy for as long as possible.
By keeping the “true cost” of utility scale Solar energy artificially high through the use of excessive budgets on projects where they are essentially paying themselves excessively large sums of money to build pitifully low yield Solar installations Companies like Masdar are manipulating the cost of Solar energy on the world market thereby pushing up the price of oil as the markets continue to bid up the price of the dwindling reserves and keeping the other players like coal and gas satisfied with the status quo while they continue to rake in the profits received from sales of their product to the global market.
In other words, Utility scale solar is massively over priced. The big players know this full well and are controlling the market to keep things that way. In much the same way that they control the production of electric cars to ensure we all rely on petrol they are also drip feeding the world Solar energy to keep their profit margins high. The end result is wasted time, opportunity and resources.
The sad truth is that the word could already have an abundant supply of fresh drinking water and electricity simply by using relatively modest resources to build Concentrated Solar Thermal Desalinisation and Electricity production plants for every major city in the sunny parts of the world. This would free up remaining resources for the countries which are not as sundrenched and lower the price of energy and the global carbon footprint. Now that would just be rational and logical which as we already know is not possible while the Elite of the world remain in charge.
Either that or they really are just idiots over there at Mubadala and have no idea how bad they are getting ripped off.
Just flip a coin to decide…