Forecast: Renewable Energy Supply in Saudi Arabia

The renewable energy supply in Saudi Arabia has shown a gradual increase from 0 in 2013 to 0.04 in 2023 in terms of Total Primary Energy Supply. In 2023, the supply stood at 0.04, maintaining the same level as in 2022 and representing a modest yet steady growth trend.

Year-on-year variation over the past two years shows a growth rate of 33.33% in 2022 and 0% in 2023. The Compound Annual Growth Rate (CAGR) for the last five years stands at 31.95%, indicating a strong upward trend for renewable energy adoption during this period.

Future trends to watch for:

• Continued increase in renewable energy investments and infrastructure.
• Government policies and initiatives supporting renewable energy development.
• Technological advancements that could accelerate renewable energy adoption.

The forecasted CAGR for the next five years is 6.96%, with an overall growth rate of 40% by 2028, suggesting moderate but consistent growth in Saudi Arabia’s renewable energy supply.