Forecast: Share of Renewable Electricity Generation in Saudi Arabia

The share of renewable electricity generation in Saudi Arabia has shown a consistent upward trend from 2013 to 2023, reaching 0.00048 percent of the total electricity output in 2023. Although the initial years experienced fluctuations and declines, starting from 2016, the year-on-year growth has stabilized with a steady increase, averaging a 4.78% CAGR over the past five years.

Looking forward, forecasts suggest that the share will continue to grow, albeit at a slower rate with a forecasted 5-year CAGR of 2.72%, resulting in a projected growth rate of 14.35% by 2028. This indicates a sustained but modest acceleration in the adoption of renewable energy within the country's electricity generation mix.

Future trends to watch for:

• Government policies and investments in renewable energy infrastructure.
• Technological advancements in renewable energy that could drive efficiency and cost-effectiveness.
• Global energy market dynamics and their impact on local investments and priorities.