Business, Economics and Jobs

Saudi Arabia plans to be entirely powered by renewable energy


Solar panels soak up the rays in Berlin. Germany now has half of the world's entire solar energy capacity.


Andreas Rentz

Saudi Arabia has revealed plans that it will become 100 percent powered by renewable and low carbon energy, said a member of the royal family during the Global Economic Symposium in Brazil.

This isn't something that'll take place overnight — according to the Guardian, Saudi Arabia's current energy use is almost entirely powered by fossil fuels. Two-thirds comes from oil, and the remainder from gas.

What's more, Saudi Arabia is the world's biggest oil producer.

Though some observers remain skeptical of the country's ability to pull off the endeavor, Bloomberg reported that Mecca has already begun plans to lead Saudi Arabia's solar energy expansion.

Bloomber reported that Mecca is leading a larger effort in the country; Saudi Arabia is seeking $109 billion of investment for building a solar industry, aiming to get a third of Saudi Arabia’s power from the sun by 2032 compared with almost none now.

Their target is almost as much as the $136 billion invested worldwide in solar energy last year, according to Bloomberg New Energy Finance.