Middle East embraces solar energy revolution

The Middle East experienced an 11.2% increase in renewable energy capacity in 2022, driven primarily by solar PV. The UAE and Saudi Arabia have some of the world's lowest installation costs, while Gulf sovereign wealth funds are increasingly financing global and regional projects. Oman is leading in projected capacity additions, and Jordan is among the top eight countries globally for the growth rate of renewables in its energy mix.

• Renewable energy capacity in the Middle East grew by 11.2% in 2022 compared to 2021, marking the second largest percentage gain of any region that year.
• Solar PV is the primary driver of renewable growth in the Middle East and North Africa (MENA) region, accounting for 92.7% of total installed renewable capacity in 2022. Between 2015 and 2022, cumulative installed solar capacity in the Middle East increased 30 times, significantly outpacing the global increase of 4.6 times.
• The UAE and Saudi Arabia have some of the lowest utility-scale solar PV installation costs globally. In 2022, the UAE's weighted average total installed cost was USD 578 per kW, which is 48% below the global average. Saudi Arabia's cost was USD 653 per kW in 2022.
• Gulf sovereign wealth funds (SWFs) are pivoting toward renewables, leveraging assets totaling USD 3.7 trillion. Examples include the UAE's Mubadala Investment Co acquiring a 50% stake in Skybourne Renewables for USD 2.5 billion and the Abu Dhabi Investment Authority purchasing a 14% stake in Climate Technologies for USD 2.4 billion.
• Oman is leading the Middle East in projected renewable capacity, with over 18 GW of prospective solar projects. In 2022, Oman installed more renewable capacity than it had in the previous decade.
• Jordan is one of eight countries globally with the highest growth rates for the share of renewables in its energy mix. Between 2015 and 2020, Jordan increased the share of wind and solar in its electricity mix from 1% to 21%.

APA

Zero Carbon Analytics (2023). Middle East embraces solar energy revolution. https://zerocarbon-analytics.org/wp-content/uploads/2023/12/2023-11-Middle-East-embraces-solar-energy-revolution-.pdf

Chicago

Zero Carbon Analytics. Middle East embraces solar energy revolution. 2023. https://zerocarbon-analytics.org/wp-content/uploads/2023/12/2023-11-Middle-East-embraces-solar-energy-revolution-.pdf.

Wikipedia

{{cite report |author=Zero Carbon Analytics |title=Middle East embraces solar energy revolution |date=November 2023 |url=https://zerocarbon-analytics.org/wp-content/uploads/2023/12/2023-11-Middle-East-embraces-solar-energy-revolution-.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{zerocarbonanalytics2023middle, author = {{Zero Carbon Analytics}}, title = {{Middle East embraces solar energy revolution}}, institution = {Zero Carbon Analytics}, year = {2023}, month = nov, url = {https://zerocarbon-analytics.org/wp-content/uploads/2023/12/2023-11-Middle-East-embraces-solar-energy-revolution-.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }