Economic assessment of large scale solar photovoltaic projects in the UAE

As the United Arab Emirates is diversifying its energy sources, it is increasingly looking towards solar photovoltaic technology as a viable option. A key factor in promoting this option is the capability to forecast financial viability of solar projects. This paper uses stochastic analysis instead of deterministic analysis and applies it on potential UAE solar power projects to obtain a wider understanding of the variability associated with financial performance, based on the variability and uncertainty in independent input variables.