La Dubai Electricity and Water Authority (DEWA) has been the center of global attention with its recent announcement of the tender prices of the four consortia competing to develop the fourth phase of the Mohammed bin Rashid Al Maktoum solar park, a project that is marking a before and after in renewable energy. The lowest bid submitted for this project concentrated solar power (CSP) is 9,45 US cents per kWh, equivalent to approximately 8,5 Euro cents, setting a new world record.
Not only is this price impressive, it also represents a nearly 40% reduction from the lowest previous generation price worldwide. In addition, two other offerings also recorded prices below the 10 euro cents per kWh, demonstrating the growing competitiveness and viability of solar thermal energy compared to other technological options. This development positions Dubai as one of the key regions in the development of solar energy and energy storage technology.
The fourth phase of the thermal plant will include a plant with tower technology and energy storage of up to 12h, which will allow the complex to continue supplying electricity even during the night. This is just the beginning of a much more ambitious project that will eventually have 1.000 MW of solar thermal energy. This system is especially innovative in terms of Storage capacity, since it uses molten salts to store thermal energy, making it manageable day and night.
In Dubai, the Mohammed bin Rashid Al Maktoum solar farm has undergone multiple expansions since its creation in 2013, when it generated just 13 MW. This latest phase is just one step towards the ultimate goal of reach 5.000 MW of installed capacity by 2030. The plant will also include the tallest solar thermal power tower in the world, with a height of 260 meters, which is another world record for Dubai in terms of renewable energy.
There is no doubt that solar thermal is booming. However, the situation in Spain is different. As a result of the cuts made to the thermosolar plants, Spanish companies have been displaced as promoters of this type of projects on the international stage. However, prothermal solar The European Commission hopes that Spanish companies will be able to participate as subcontractors in this and other projects to come. At the European level, recent pressure from the EU to increase the share of renewable energy, combined with falling costs, could revitalise the market in Spain in the coming years.
One of the strongest points of solar thermal technology is that, in addition to its current low costs, it offers the possibility of combining electricity generation and Energy storage, a key factor for the stability of the electrical grid. According to industry experts, it is the only manageable technology which can offer these benefits, especially in countries with abundant solar radiation. This storage capacity is possible thanks to the use of molten salts, which allow the plant to operate continuously and stably.
Not only is Dubai leading the way with the world's largest solar thermal plant, but it has also made progress when it comes to thermal storageThe plant has set another world record by reaching 6.000 megawatt hours (MWh) of storage capacity using molten salts, which will allow it to supply energy for many hours after sunset. The plant will also incorporate 250 MW of solar photovoltaic energy, making it an innovative hybrid complex.
These types of projects require massive investments. The fourth phase of Dubai's Mohammed bin Rashid Al Maktoum Solar Park foresees an investment of more than 3.200 millones de euros. According to forecasts, the project will provide clean and sustainable energy to around 320.000 homes and reduce carbon emissions by 1,6 million tonnes per year, cementing Dubai’s position as a global leader in the fight against climate change.
According to the president of Protermosolar, Luis Crespo, the current costs of generating electricity with solar thermal plants with six hours of storage they are minors than those of photovoltaic plants. In addition, Crespo assures that the prices of solar thermal will continue to fall as the technology evolves, which will allow this technology to be even more competitive in the global energy market. Comparing the current prices 5 GW of solar thermal power capacity installed worldwide compared to 500 GW of wind energy or 300 GW of photovoltaic energy, the potential of solar thermal energy to reduce costs is very large.
With ever-decreasing costs and the ability to generate dispatchable energy both day and night, solar thermal continues to prove to be a key technology for the future of energy systems in countries with abundant solar radiation.