Forecast: Solar Energy Capacities in the UAE

The solar energy capacity in the UAE has seen significant growth over the past decade, increasing from 125.8 MW in 2013 to 3,450 MW in 2023. Year-on-year variations show remarkable spikes, notably in 2017 with a 152.74% increase, and in 2019 with a 220.51% surge. Over the last two years, the growth rates were 11.25% in 2022 and 13.55% in 2023. The compounded annual growth rate (CAGR) over the last five years stands at 41.98%. Future projections imply continued expansion, with the capacity expected to reach 4,870 MW by 2028, reflecting a 5.12% CAGR over the forecasted period and a cumulative growth rate of 28.35%.

Looking ahead, future trends to watch for include advancements in solar technology, governmental policies promoting green energy, and large-scale solar projects that could further accelerate the UAE's adoption of solar energy and boost capacities significantly. These trends will be crucial in sustaining the upward trajectory and meeting the growing energy demands sustainably.