According to recent forecasting by DNV, a global quality assurance and risk management company, the Middle East and North Africa (MENA) region is poised for a dramatic acceleration in renewable energy adoption. The report projects that the installed capacity of renewables in the region will expand tenfold by the year 2040. This massive shift indicates that by 2060, electricity will sustain thirty-five percent of total energy demand, with the vast majority sourced from renewable assets. The future energy mix is expected to be heavily dominated by solar photovoltaic (PV) at forty-five percent and wind energy at forty percent.
A central component of this transition is the rapid deployment of solar PV technology. DNV predicts that PV installations will grow from seventy-six gigawatts in 2024 to an impressive three hundred and forty gigawatts by 2029. This trajectory suggests that within the next decade, PV technology will supply approximately one-fifth of the region's total electricity. This aggressive expansion is being driven by high solar irradiance levels in the region and decreasing technology costs. Furthermore, to manage the intermittency of solar power and ensure grid stability, the number of projects combining PV generation with battery energy storage systems is expected to increase significantly.
