Dubai: Saudi Arabia has set a new world record for the lowest levelised cost of electricity for solar photovoltaics, achieving $10. Saudi Arabia, along with the UAE and Oman, is set to lead the Middle East's solar energy transition. city of 6,151 megawatts, in addition to one wind energy project with a wable renewable energy by the of housing units renewable energy by the of housing units ject is lume in renewable energy projects by the end of 20 lume in renewable energy projects by the end of 20 lume in renewable energy. Saudi scientists have determined the current price threshold for power purchase agreements (PPA) that could make large-scale PV and wind power projects viable in Saudi Arabia. They incorporated data from the 300 MW Sakaka solar farm and four potential utility-scale PV project sites. This leadership is attributed to. The cost of solar power in Saudi Arabia varies based on several factors, including installation size, technology choice, and financing options. [citation needed] As the largest oil producer and exporter in the world and one of the largest carbon dioxide.