Forecast: Renewable Power Generation in Saudi Arabia

The renewable power generation in Saudi Arabia stood at 1.4 TWh in 2023. The period from 2013 to 2023 has shown notable growth, with annual variations ranging from substantial increases, such as a 385.05% rise in 2019, to years of stagnation. Over the last two years, there were modest increases of 10.43% in 2022 and 9.37% in 2023. The last five-year CAGR (2018-2023) was 45.61%, indicating a robust growth trajectory in renewable energy generation.

In the coming years, although the growth is expected to decelerate slightly, the renewable power generation is forecasted to reach 1.99 TWh by 2028, with a forecasted five-year CAGR of 5.56% and an overall growth rate of 31.1%.

Future trends to watch for include:

• Increasing investments in renewable energy projects
• Government policies and incentives promoting green energy
• Technological advancements in renewable technologies