Between 2013 and 2023, renewable energy consumption in the Middle East & North Africa (MENA) region experienced a varied growth trajectory. The Unit of Final Energy Consumption in 2023 stood at 2.27. From a decrease of 5.45% in 2014 to a significant rise of 9.45% in 2020, the annual growth rates reflect a volatile period until 2020. From 2021 to 2023, the growth stabilized with year-on-year variations ranging from 4.3% to 3.3%, achieving a CAGR of 6.43% over the last five years.
Looking ahead, the forecast indicates a modest acceleration in renewable energy consumption with a forecasted CAGR of 1.15% over the next five years, projecting a growth rate of 5.88% by 2028. Key trends to watch include technological advancements, policy changes, and investments in renewable infrastructure, which could drive higher adoption rates.
