Saudi Arabia Solar Energy Solutions Market is growing as the country diversifies energy sources, reduces fossil fuel dependence, and taps into abundant solar resources (2026-2030F).
According to TechSci Research report, “Saudi Arabia Solar Energy Solutions Market – By Region, Competition, Forecast and Opportunities, 2030F”, the Saudi Arabia Solar Energy Solutions Market is valued at USD 2.5 billion in 2024. The market is expected to reach USD 7.72 billion by 2030, projecting robust growth with a CAGR of 20.5% through the forecast period. As a major player in the global energy sector, Saudi Arabia recognizes the need to diversify its energy sources to ensure long-term energy stability. Solar energy plays a crucial role in this strategy, providing a sustainable alternative to the country’s reliance on oil and gas.
By reducing dependence on fossil fuels, Saudi Arabia strengthens its energy resilience, mitigates geopolitical vulnerabilities, and contributes to global climate change efforts. This shift to renewable energy aligns with the broader goal of building a well-rounded and secure energy portfolio. It also helps shield the economy from global oil price fluctuations, ensuring a secure and sustainable energy future. Through this strategic transformation, Saudi Arabia not only becomes an active participant in global sustainability but also enhances its long-term energy security and environmental sustainability.
The Jeddah region is quickly emerging as the fastest-growing hub in the Saudi Arabian solar energy solutions market. This growth is driven by Jeddah’s strategic location and favorable climatic conditions. Positioned on the western coast along the Red Sea, Jeddah enjoys abundant sunlight year-round, making it ideal for solar energy generation. The region’s high solar irradiance and vast desert landscapes are perfect for installing solar photovoltaic (PV) panels. Jeddah’s focus on renewable energy aligns with Saudi Arabia’s Vision 2030, which aims to reduce the country’s reliance on oil and promote sustainable development.
Jeddah has attracted significant investments in solar energy infrastructure, including projects like the Jeddah Renewable Energy Project, which develops solar farms and rooftop solar installations. These projects contribute to meeting local energy needs and enhancing national energy security. Jeddah’s industrial and commercial sectors are key drivers in the adoption of solar energy. Many businesses are turning to solar power to cut costs, improve energy efficiency, and demonstrate corporate social responsibility (CSR). The city’s supportive regulatory environment and government incentives further boost its appeal for solar energy investments. Initiatives like subsidies, tax incentives, and streamlined permitting processes encourage the growth of large-scale solar projects and private sector involvement.
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In 2024, the Agriculture & Horticulture segment dominated the Saudi Arabia Solar Energy Solutions Market, a trend expected to continue throughout the forecast period. The agricultural sector in Saudi Arabia has increasingly adopted solar energy for applications such as powering irrigation systems, crop drying, and supporting various agricultural operations. The region’s arid climate, combined with abundant sunlight, makes solar energy a perfect fit for agriculture. Solar-powered irrigation systems, in particular, have become popular as a reliable and cost-effective alternative to traditional energy sources.
The government’s focus on food security and sustainable agriculture aligns with the dominance of the Agriculture & Horticulture segment in the solar energy market. Additionally, the integration of solar panels in agricultural areas through agrivoltaics—dual land use—supports the growth of solar energy in agriculture. As Saudi Arabia continues to prioritize renewable energy adoption and sustainable agricultural practices, this segment is expected to remain a key contributor to the country’s efforts in building a resilient and sustainable energy and agricultural ecosystem.
Key market players in the Saudi Arabia Solar Energy Solutions Market are: –
- ACWA Power International
- Saudi Electricity Company
- Saudi Arabian Oil Co.
- Trina Solar Co.,Ltd
- SolarEdge Technologies Inc.
- Schneider Electric SE
- First Solar Inc
- Array Technologies, Inc.
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“The Saudi Arabia Solar Energy Solutions Market offers significant growth opportunities, driven by the country’s Vision 2030 initiative to diversify its energy sources and reduce dependency on fossil fuels. With abundant sunlight and favorable climatic conditions, Saudi Arabia is well-positioned to become a global leader in solar energy. The government’s commitment to achieving a renewable energy target of 50% by 2030 fuels demand for solar solutions across residential, commercial, and industrial sectors.
Additionally, large-scale solar projects such as the NEOM city and Red Sea development provide further market potential. As solar panel technology continues to advance, offering higher efficiency and reduced costs, there is increased potential for widespread adoption. The growing focus on environmental sustainability, along with supportive policies, subsidies, and incentives, creates a favorable market environment. There is also opportunity for innovation in energy storage solutions to complement solar energy systems, enhancing grid stability.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Solar Energy Solutions Market By Type (Photovoltaic Cells, Concentrated Solar Power Systems), By Application (Agriculture & Horticulture, Architecture, Transportation, Others) By Region, Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth potential of Saudi Arabia Solar Energy Solutions Marketand provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Solar Energy Solutions Market.
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