Renewable energy markets: GCC 2023

<!doctype html> <html lang="en"> <head> <meta charset="utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1, viewport-fit=cover"> <title>Renewable energy markets: GCC 2023</title> <meta property="og:title" content="Renewable energy markets: GCC 2023"> <meta name="logo" href="/-/media/Examples/Irena/Images/Navigation/IRENA_logo.svg" /> <meta name="keywords" content="IRENA, IRENA publications, renewable energy, GCC, Gulf, Arab world, solar, wind, emissions, renewable energy targets, power generation, renewable investment, water, hydrogen, H2, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates, UAE" /> <meta name="description" content="Global climate imperatives are re-shaping energy sectors across the globe, presenting both challenges and opportunities for the Gulf Cooperation Council (GCC) states" /> <meta property="og:image" content="https://www.irena.org/-/media/Images/IRENA/Agency/Publication/2023/Dec/GCC-cover.png"> <meta name="twitter:card" content="summary_large_image"> <meta name="twitter:image" content="https://www.irena.org/-/media/Images/IRENA/Agency/Publication/2023/Dec/GCC-cover.png"> <link rel="manifest" href="/assets/static/site.webmanifest"> <link rel="mask-icon" href="/assets/static/safari-pinned-tab.svg" color="#dd082b"> <meta name="msapplication-TileColor" content="#ffffff"> <meta name="theme-color" content="#ffffff"> <meta name="msapplication-config" content="/assets/static/browserconfig.json" /> <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-PR8BPS9');</script> <link rel="preload" href="/assets/fonts/Graphik/Graphik-Light.woff2" as="font" crossorigin="anonymous" /> <link rel="preload" href="/assets/fonts/Graphik/Graphik-Semibold.woff2" as="font" crossorigin="anonymous" /> <link rel="preload" href="/assets/fonts/Graphik/Graphik-Bold.woff2" as="font" crossorigin="anonymous" /> <link rel="stylesheet" href="/assets/styles/default.css?v=37247128"> <link rel="stylesheet" href="/assets/styles/print.css?v=37247128" media="print"> <script> var IR_APP_CFG = { global: { errorMsg: 'An error occurred. 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<h2 class="Heading__text "> ENERGY TRANSITION </h2> </div> <ul class="m-Header__sublist "> <li> <a href="/Energy-Transition/Outlook" class="m-Header__sublink" >Outlook</a> </li> <li> <a href="/Energy-Transition/Partnerships" class="m-Header__sublink" >Partnerships</a> </li> <li> <a href="/Energy-Transition/Policy" class="m-Header__sublink" >Policy</a> </li> <li> <a href="/Energy-Transition/Technology" class="m-Header__sublink" >Technology</a> </li> <li> <a href="/Energy-Transition/Socio-economic-impact" class="m-Header__sublink" title="Scio-economic impact" >Socio-economic impact</a> </li> <li> <a href="/Energy-Transition/Country-engagement" class="m-Header__sublink" >Country engagement</a> </li> <li> <a href="/Energy-Transition/Project-Facilitation" class="m-Header__sublink" >Project Facilitation</a> </li> <li> <a href="/Energy-Transition/Planning" class="m-Header__sublink" >Planning</a> </li> <li> <a href="/Energy-Transition/Innovation" class="m-Header__sublink" >Innovation</a> </li> 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class="m-TopHeader__description"> Global climate imperatives are re-shaping energy sectors across the globe, presenting both challenges and opportunities for the Gulf Cooperation Council (GCC) states. </div> <div class="m-TopHeader__footer"> <div class="m-TopHeader__footerLeft"> <span class="m-TopHeader__isbn">ISBN: 978-92-9260-568-1</span> <time class="m-TopHeader__date" datetime="2023-12-06">December 2023</time> </div> </div> </div> </div> <div class="m-Breadcrumbs "> <div class="c-Breadcrumbs"> <nav class="c-Breadcrumbs__wrapper" aria-label="Navigation path"> <ol class="c-Breadcrumbs__list" itemscope="itemscope" itemtype="https://schema.org/BreadcrumbList"> <li itemprop="itemListElement" itemscope="itemscope" itemtype="https://schema.org/ListItem"> <a class="c-Breadcrumbs__link" itemprop="item" href="/"> <span itemprop="name">Home</span></a> <meta itemprop="position" content="1"/> <span class="c-Breadcrumbs__separator">></span> </li> <li itemprop="itemListElement" 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</ol> </nav> </div> </div> </div> </div> </header> </div> </section> <section class="l-section l-section--container "> <div class="l-grid__row"> <div class="l-grid__xxs--4 l-grid__m--2 set-order-on-mobile "> <div class="m-NewsletterSmallForm show-on-desktop" data-jsmodule="NewsletterSmallForm"> <div class="Heading "> <h4 class="Heading__text "> Newsletter </h4> </div> <form class="m-NewsletterSmallForm__form" action="/subscriptionform" method="post"> <input type="text" name="EmailId" class="m-NewsletterSmallForm__input" data-newslettersmallform-input="" placeholder="Enter e-mail address" aria-label="Subscribe" /> <button type="submit" class="m-NewsletterSmallForm__btn" data-newslettersmallform-submit="" disabled="">Go</button> </form> </div> <div class="m-AvailableTranslations is--expanded is--active " data-jsmodule="AvailableTranslations" data-togglecontent-init="mobile" data-togglecontent-collapse="mobile"> <div class="m-AvailableTranslations__button" data-togglecontent-button=""> <div class="Heading "> <h4 class="Heading__text "> Full report translations: </h4> </div> </div> <div class="m-AvailableTranslations__content" data-togglecontent-content=""> <div class="m-AvailableTranslations__inner" data-togglecontent-inner=""> <ul class="m-AvailableTranslations__list"> <li> <a href="/Publications/2023/Dec/Renewable-energy-market-analysis-GCC-AR" class="m-AvailableTranslations__link" rel="noopener noreferrer" target="_blank" >Arabic (عربي)</a> </li> </ul> </div> </div> </div> </div> <div class="l-grid__m--10 "> <div class="l-grid__row"> <div class="l-grid10__m--8 l-grid10__m__offset--1 " id="m1fcc9fb2a97c4f06b8dabb226c0f8ce5">  <div class="m-RichText " data-jsmodule="RichText">  <div class="c-RichText " data-jscomponent="RichText"> <p>The GCC countries are some of the world’s most significant fossil fuel producers and exporters, and are among the world’s largest per capita emitters of CO<sub>2</sub>. However, this report shows that renewable energy deployment is growing in the region; albeit the share of renewables in the electricity mix of the GCC region remains negligible, accounting for only 3% of the region’s generation capacity in 2022.</p> <p>Renewable energy deployment also remains highly concentrated in the region, with the UAE accounting for more than 60% of the region’s total renewables capacity and close to 70% of renewable energy investments; yet investments and deployments are expected to accelerate across all GCC states as they implement their renewable energy plans.</p> <p>The energy transition, including renewable energy deployment, presents the region with opportunities for climate change mitigation and adaptation as well as economic diversification. Climate vulnerability is high in the region, reinforcing the importance of urgent climate mitigation and adaptation actions in which renewables play a critical role.</p> <p>The GCC has a solid energy infrastructure that can be leveraged and built on for increased shares of renewables. Domestically, investments in renewables in the GCC are expected to reach new heights in the years to come following COP28. While the region’s past has clearly been shaped by fossil fuels, its future may well be shaped by renewables.</p> </div>  </div>  </div> <div class="l-grid10__m--9 l-grid10__m__offset--1 " id="m23c513bd1cac4b71aa6ce23be05a8290"> <div class="m-BoxRelatedContent " data-jsmodule="BoxRelatedContent" data-boxrelatedcontent-space=""> <div class="swiper-container"> <div class="Heading m-BoxRelatedContent__heading Heading--border" id="m9b55d884c2ea4d23aaf13929e0b8456c"> <h2 class="Heading__text"> Related content </h2> </div> <div class="swiper-navigation is--hide"> <button class="icon icon--swiper swiper-button-prev"> <svg> <use xlink:href="/assets/icons/arrows.svg#arrows-swiper"/> </svg> </button> <button class="icon icon--swiper swiper-button-next"> <svg> <use xlink:href="/assets/icons/arrows.svg#arrows-swiper"/> </svg> </button> </div> <ul class="swiper-wrapper" data-slides-mobile="" data-slides-tablet="" data-slides-desktop=""> <li class="swiper-slide"> <div class="c-BoxRelatedContentItem 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Renewable energy markets: GCC 2023