In 2023, the total renewable energy in Saudi Arabia stood at a certain level. The forecasted data indicates a steady year-on-year increase, with 27.25 thousand tonnes of oil equivalent expected in 2024 rising to 30.93 thousand tonnes of oil equivalent by 2028. This represents consistent annual growth rates: 3.49% from 2023 to 2024, 3.49% from 2024 to 2025, 3.31% from 2025 to 2026, and 3.12% from 2026 to 2027, indicating a slightly decelerating growth trajectory. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is approximately 3.28%.
Future trends to watch for include advancements in solar and wind technology, potential governmental policy shifts favoring renewable energy, and investments in upgrading the national grid to accommodate higher renewable energy outputs.
