Interesting article in the Sunday Times today about CSP - http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6727617.ece. Munich Re, the world’s largest reinsurance group and a leader among financial institutions on climate change, brought together 12 finance and energy companies in Munich a fortnight ago to examine whether the concept of harnessing solar power from the deserts was feasible from a political and economic point of view. Deutsche Bank, Eon, Siemens and ABB attended the meeting, along with representatives from Desertec, the European Union and the League of Arab States. Delegates agreed to fund a three-year feasibility study, with all 12 members contributing to the $2.5m (£1.5m) running costs for the first year.
Desertec claims that the world’s present electricity needs could be met by covering just 1% of the world’s deserts with CSP. Cost is a problem. Electricity generated by CSP costs about €0.15 per kilowatt, compared with €0.06 per kilowatt for electricity generated from coal or nuclear stations.c Supporters of the Desertec plan believe the price of CSP can be brought down to the same level as fossil fuels if European governments provide subsidies for 10 to 15 years.
