Forecast: Solar Energy Consumption in the UAE

Solar energy consumption in the UAE has shown significant growth over the past decade. From 2013 to 2023, there has been a substantial upward trend, escalating from nearly negligible levels in 2013 to 0.073 Exajoules in 2023. The year-on-year growth rate has been highly variable, peaking notably in 2019 with a 218.18% increase. However, recent years have demonstrated more modest increments, with 2023 showing a 12.31% increase from the previous year. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 stands at 46.01%, indicating robust momentum in solar energy adoption.

Future trends to watch:

- Forecasts from 2024-2028 predict a continuation of growth, albeit at a slower CAGR of 6.7%, culminating in an expected consumption of 0.11 Exajoules by 2028.

- The forecasted 5-year growth rate from 2024 to 2028 is anticipated to be 38.27%, highlighting sustained but decelerating expansion.

- Key drivers for future trends include technological advancements, policy support, and increased investment in renewable energy infrastructure. Monitoring these factors will be crucial in predicting future growth trajectories in the UAE's solar energy sector.