The renewable energy supply in the United Arab Emirates has notably increased from 0.02 in 2013 to 1.24 in 2023, evidencing substantial growth. The year-on-year variations have shown significant fluctuations, with a peak increase of 350% in 2014 and a slight decline in 2015. From 2016 onwards, there has been a consistent upward trend, particularly from 2018 with a 42.86% increase, and reaching 19.23% in 2023. Over the last five years, the compound annual growth rate (CAGR) has been impressive at 44.04%, indicating strong momentum in the renewable energy sector.
Looking forward, the forecast predicts continued growth in renewable energy supply, with a 5-year CAGR of 9.24% by 2028. Future trends to watch for include technological advancements in renewable energy production, policy changes promoting renewable energy investment, and global market dynamics influencing renewable resources availability and cost.
