Forecast: Renewable Power Consumption in Saudi Arabia

Analysis of historical data reveals substantial growth in renewable power consumption in Saudi Arabia, starting from 2017. Notably, there was a significant surge in 2021 with a 300% year-on-year increase, followed by a stabilization until 2022. The recorded value for 2023 stands at 0.01 Exajoules, reflecting a 25% year-on-year increase from 2022. The Compound Annual Growth Rate (CAGR) over the past five years is 37.97%. Forecasts predict a consistent upward trend with an estimated CAGR of 10.76% and total growth of 66.67% by 2028, reaching 0.02 Exajoules.

Future trends to watch for:

• Emphasis on expanding renewable energy capacity, particularly solar and wind projects.
• Government policies and investments targeted towards achieving Vision 2030 goals.
• Technological advancements and international collaborations enhancing renewable energy efficiency.
• Integration of renewable power into the national grid to ensure stable and continuous growth.