Solar energy is too costly for us: SEC CEO
SEC currently uses two million barrels a day to produce electricity
Saudi Electricity Company CEO Zeyad Al-Shiha said recently said solar energy is currently too costly to replace traditional methods of energy production. Producing electricity with fuel costs seven halala per megawatt, compared to 50 halala when using solar energy, Al Shiha said while speaking on the sidelines of the 16th Quality Forum currently under way in Makkah.
"The high costs involved (in producing solar energy) are linked to the manufacture of batteries that store energy and convert it to electricity, which is then channeled to the network. Such a manufacturing process is very costly and requires huge quantities of metals," he said.
He said the company would not stop using oil to generate electricity. SEC currently uses 2 million barrels a day to produce electricity.
He said subscribers do not pay electricity tariffs on a regular basis, and fuel is a subsided commodity for all citizens.