A new report by SolarPower Europe finds that more renewables, electrification and flexibility can boost European competitiveness, slashing average day-ahead energy prices by a quarter in the next six years and a third by 2040.

Part of the National Renewable Energy Program, the ambitious project will identify the best sites to develop renewable energy projects throughout the country. Contracted companies will install 1,200 stations across all regions of the kingdom to measure solar and wind energy. Beginning this year, Saudi Arabia will tender new renewable energy projects with a capacity of 20 GW annually.

Enormous quantities of raw materials, such as copper and aluminum cables, are required for energy system conversion when connecting renewable generators to the grid. The Fraunhofer Institute for Solar Energy Systems ISE sees a huge potential for savings with higher system voltages and is planning its first pilot PV power plants with this technology.