The renewable power generation in the UAE showed significant growth from 2013 to 2023, starting at 0.087 TWh in 2013 and reaching 11.26 TWh in 2023. This represents a tremendous increase driven by government initiatives and investments in renewable energy projects. The year-on-year growth rates varied widely, with some years, like 2019, experiencing a rise as high as 216.29%. Over the past two years, we observed growth rates of 25.03% in 2022 and 19.92% in 2023. The compounded annual growth rate (CAGR) over the past five years stands at 53.54%, indicating consistent growth in renewable power generation.
Looking forward, the forecast for renewable power generation demonstrates sustained growth, with values projected to reach 20.48 TWh by 2028. The forecasted five-year CAGR is 9.31%, which points to a more moderate but still substantial increase, reflecting the maturation of the sector and continued investments. Future trends to watch for include advancements in solar and wind technologies, potential policy shifts favoring renewables, and ongoing large-scale renewable energy projects in the region.