New Report: MENA Solar Markets to Exceed 3 Gigawatts Annually by 2015

Saudi Arabia and Turkey to Lead Solar Growth in the Region, According to GTM Research

January 10, 2013 08:13 Source: Greentech Media

BOSTON, Jan. 10, 2013 (GLOBE NEWSWIRE) — Solar energy demand in the Middle East and North Africa (MENA) region is attracting the attention of the global solar market, as the industry begins to diversify existing demand from feed-in tariff markets with demand from markets that offer fundamental solar drivers such as insolation, grid prices and electricity needs. On the back of these fundamental drivers, forecasts the annual solar market in MENA countries to reach nearly 3.5 gigawatts by 2015 and comprise close to 8 percent of total demand globally that year.

The clear majority of demand in the MENA region will originate in Saudi Arabia and Turkey, according to GTM’s report,  Middle East and North Africa Solar Market Outlook, 2013-2017. Saudi Arabia promises to be the region’s first gigawatt-scale market by 2015. The report forecasts Turkey to be the second strongest market in the region in 2015 and beyond, as favorable renewables policies and previous wind installation experience is expected to translate into greater solar demand.

New Report: MENA Solar Markets to Exceed 3 Gigawatts Annually by 2015