Saudi Arabia consumes a large amount of fossil fuels to meet its domestic energy requirements, with transportation and power sectors being the largest consumers of crude oil in the country. Over the couple of decades, consumption of crude oil in Saudi Arabia has increased significantly due to rising power demand on account of increasing urbanization and industrialization. However, considering future energy requirements and concerns associated with increasing domestic oil consumption, Government of Saudi Arabia has announced a Renewable Energy Program involving an overall investment of USD109 billion to generate electricity from renewable energy sources. Being located within the equatorial Sunbelt and receiving abundant solar radiation throughout the year, Saudi Arabia offers immense potential for solar power generation.
According to “Saudi Arabia Solar Power Market Forecast & Opportunities, 2020”, solar power market in Saudi Arabia isprojected to witness phenomenal growth over the next five years. In the coming years, solar energy would be generated in the country by employing both photovoltaic (PV) technology and concentrated solar power (CSP) technology. According to the government’s Renewable Energy Program, 54 GW of renewable energy capacity would be installed by 2032, which includes 41 GW of solar energy capacity. “Saudi Arabia Solar Power Market Forecast & Opportunities, 2020” report elaborates following particulars about the solar power market in Saudi Arabia:
• Saudi Arabia Solar Power Market Size, Share & Forecast
• Policy & Regulatory Landscape
• Changing Market Trends & Emerging Opportunities
• Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
• To gain an in-depth understanding of solar power market in Saudi Arabia.
• To identify on-going trends and anticipated growth in the coming years.
• To help industry consultants, solar energy producers, vendors and dealers to align their market-centric strategies
• To obtain research based business decisions and add weight to presentations and marketing material
• To gain competitive knowledge of leading players
• To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included surveys with key stakeholders associated with solar power industry. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.