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Investments in solar energy reached $161 billion last year, producing 98 gigawatts of electricity.The production capacity of renewable energy projects launched last year, especially sun and wind, reached 157 gigawatts, compared to only 70 gigawatts from all other sources combined. The International Renewable Energy Agency, based in Abu Dhabi, expects that by 2020 the cost of producing electricity from renewable energy will be the cheapest, compared to any other traditional source around the world. This is 2.5 times the current total production of electricity in Saudi Arabia and 100 times more than the largest project announced in the world.Investments in the four phases of the solar complex amounted to $9 billion, with a capacity of 2 gigawatts.The key lesson from these developments is that renewable energy has become an integral component of the energy mix and will become, in a few years, the main source of electricity production around the world.
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