Saudi Arabia Solar Power Market Forecast and Opportunities 2015-2020 - Growing Trend towards Renewables

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Research and Markets

26 May, 2015, 14:59 GMT

DUBLIN, May 26, 2015 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/rzgg95/saudi_arabia) has announced the addition of the "Saudi Arabia Solar Power Market Forecast and Opportunities, 2020" report to their offering.
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Solar power market in Saudi Arabia is projected 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 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.

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

Market Trends and Developments  

  • Declining Cost of PV Systems
  • Use of Solar Energy for Water Desalination
  • Large Utility Scale Solar Power Plants
  • Concentrated Solar Power
  • Growing Trend towards Renewables

Companies Mentioned  

  • Suntech Power Holdings Co., Ltd.
  • Canadian Solar Inc.
  • Solar Frontier K.K
  • Soitec
  • ReneSola Ltd.
  • Phoenix Solar AG
  • Sun & Life
  • SunPower Corporation
  • Abengoa S.A.
  • National Solar Systems LLC

For more information visit http://www.researchandmarkets.com/research/rzgg95/saudi_arabia


Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net