MESIA Launches 2024 Solar Outlook Report
MESIA Launches 2024 Solar Outlook Report, Emphasizing Urgency for Balanced Energy Deployment in the MENA Region
Dubai, UAE- April 22 – Wednesday marked a significant milestone for the Middle East Solar Industry Association (MESIA) with the official launch of the much-anticipated 2024 MESIA Solar Outlook Report and its Green Hydrogen Report (in collaboration with Solarabic) during the World Future Energy Summit,. The Solar Outlook Report, unveiled amidst a backdrop of the exceptional weather bashing the UAE, sheds light on the crucial role of solar energy in the ongoing energy transition journey across the MENA region.
As concerns over climate change and environmental sustainability intensify, the 2024 Solar Outlook Report underscores the increasing importance of solar energy in reducing reliance on traditional fossil fuels. With countries such as Saudi Arabia, the UAE, Oman, Morocco, and Egypt leading the charge, the MENA region now boasts one of the world's highest levels of solar energy potential, with average annual solar irradiance exceeding 2,000 kWh per square meter per year.
The report contains exclusive content from leading research organisations such as Rystad Energy and Fortune Business Insights alongside original articles and reviews across PV technology, performance testing, energy storage among others. 14 MENA countries are covered in this edition including Egypt, Bahrain and KSA.
In 2023, the MENA region witnessed a remarkable 23 percent year-on-year increase in solar capacity, signaling a positive trend towards renewable energy adoption. However, despite this growth, solar power still accounts for only a fraction of the region's overall energy mix, comprising just over two percent, with fossil fuels continuing to dominate at 87 percent.
Denisa Fainis, Secretary General of MESIA, emphasized the urgency of meeting ambitious renewable energy targets outlined in the Global Renewables and Energy Efficiency pledge signed at COP28. "The challenge lies in achieving these targets, particularly in the distributed energy sector within the Gulf region," said Fainis. "While utility-scale projects are crucial, there is a need to ensure a balanced approach to energy deployment to support inclusive and sustainable development."
The 2024 MESIA Solar Outlook Report serves as a roadmap for policymakers, industry stakeholders, and investors, highlighting the opportunities and challenges associated with scaling up solar energy deployment in the MENA region. By advocating for a holistic approach that addresses the needs of both utility-scale and distributed energy projects.
For more information and to access the full 2024 MESIA Solar Outlook Report, visit here.
About MESIA: The Middle East Solar Industry Association (MESIA) is a non-profit organization committed to promoting the development of the solar energy industry in the Middle East region. Through advocacy, collaboration, and knowledge sharing, MESIA strives to advance the adoption of solar energy solutions and drive sustainable development across the MENA region.
Contact:
Middle East Solar Industry Association (MESIA)
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info@mesia.com
www.mesia.com