The future of the current energy transition that is underway will depend on how successfully renewables can phase out fossil fuels. It is estimated the use of renewable energy in the transportation, heating, and power sectors will rise by almost 60% between 2024 and 2030, with solar power contributing a significant share. The number of solar power users is growing as the cost of solar panels decreases annually.
To reach this goal, the region is installing advanced solar technology, such as bifacial solar panels, which collect sunlight from both sides. The market for rooftop solar PV modules in the Middle East was estimated to be worthand is projected to expand at a compound annual growth rate of +7% from 2024 to 2032. Also, battery energy systems will support grid stabilization by storing extra solar energy for use at night or during periods of high demand.
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