Forecast: Renewable Energy Supply (Excluding Solid Biofuels) in Saudi Arabia

Over the past decade, Saudi Arabia has seen a gradual increase in renewable energy supply excluding solid biofuels, starting from zero in 2018 to 0.09 units in 2023. The year-on-year variations reflect significant growth, with a peak increase of 200% in 2020, tapering to 28.57% in 2023. The average annual growth rate (CAGR) over the last five years stands at 10.35%, indicating a steady rise. Forecasts suggest that by 2028, the renewable energy supply will reach 0.18 units, marking a 63.64% growth from 2023.

Future Trends to Watch For:

• Integration of new renewable technologies to maintain growth momentum.
• Government policies and investments that could boost expansion.
• Potential collaboration with international entities for technological advancements.
• Increasing private sector involvement in renewable energy projects.