Saudi Arabia and Turkey are expected to dominate the solar market in the Middle East and North Africa (MENA) region, according to GTM Research’s latest report.
Produced in collaboration with the Emirates Solar Industry Association (ESIA), the reports highlights insolation, grid prices and electricity demand as the fundamental factors that will make Saudia Arabia the MENA region’s first gigawatt-scale market by 2015.
The report also forecasts Turkey to be the second strongest market in the region in 2015 and beyond, as favourable renewables policies and previous wind installation experience is expected to translate into greater solar demand.
“In terms of solar energy, it is clear that the MENA region is set to experience significant change over the next five years,” said Scott Burger, GTM Research analyst and the report’s author.
“While Saudi Arabia will likely be the largest market in the long-term, there will be significant opportunities throughout the region. With strategic planning and a solid development of local partners and supply chains, savvy companies will be able to capitalise on all of the opportunities in the region.”
The overall regional outlook calls for more than 10GW of solar power demand through 2017, but the majority of this demand is expected to materialise by 2015.
“The MENA region possesses some of the greatest potential for solar energy in the world,” said Dr. Steven Griffiths, Research Director at ESIA.
“This potential is now starting to be more seriously considered; Qatar has announced plans to install 1.8GW of photovoltaic capacity by 2014 and Dubai aims to source 5% of its power supply from solar by 2030. Abu Dhabi is commissioning Shams 1, a 100MW concentrating solar power plant,” continued Griffiths.
“Not to be outdone, Saudi Arabia has announced a renewable energy strategy that will include 16GW of photovoltaic facilities and 25GW of concentrating solar power facilities by 2030.”
The region will represent almost 8% of total global demand by 2015.