Investing in a solar panel factory in the UAE is regarded as a promising investment opportunity in 2022. Aligned with its pursuit of renewable energy sources and economic growth, the UAE is currently promoting investment in solar panels.
What are solar panels?
Solar panels are used to generate electricity, regulate irrigation processes, desalinate water, as well as for cooling, ventilation, heating, cooking, and treating wastewater. As solar energy is environmentally friendly, demand for it has recently witnessed a significant surge.
The solar panels factory produces various sizes of solar panels, ranging from those suitable for homes and small residences to giant panels employed in power stations, greenhouses, and large-scale factories.
In 2020, the global solar energy market reached approximately USD 170.55 billion. Following the decline of the COVID-19 pandemic, demand surged once again in 2021, reaching USD 184.03 billion.
According to Mashroo3k studies, the global solar energy market is expected to reach USD 293.18 billion by 2028, with a CAGR of 6.9% between (2021 to 2028).
In line with its Vision 2030 objectives, the UAE actively promoting renewable energy projects and the widespread adoption of clean energy across all sectors. The latest official statistics indicate that the installed capacity of renewable energy stations in the UAE has been increased at an average annual rate of 94.19% in the past few years. According to Mashroo3k latest studies indicate that a solar panel factory is a promising investment opportunity.
Don’t hesitate to contact the Mashroo3k Investor Services team for obtaining further details on the latest economic sector indicators and investment opportunities in the UAE, as well as prominent financing entities supporting prosperous investment projects in the UAE.
