Qatar Solar Energy Market - Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Type (Solar Photovoltaic (PV), Solar Thermal, and Others)

Market Snapshot

Study Period:

2018-2025

Base Year:

2019

CAGR:

15 %

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Market Overview

The Qatar solar energy market is expected to grow at a CAGR of 15% during the forecast period of 2020-2025. The initiative by the government to decrease the emissions of greenhouse gas and a high potential for solar energy in the country due to its long day hours are likely to drive the Qatar solar energy market in the forecast period. However, the lack of incentives provided by the government for the public and businesses to adopt solar technology at the domestic level is expected to restrain the Qatar solar energy market.

  • The solar photovoltaic (PV) due to its low cost than any other solar technology in the country held a significant market share, in 2019, and is likely to dominate the Qatar solar energy market
  • Qatar government has set a target to generate 20% of the electricity from solar power, by 2030, and decided to invest USD 30 billion by 2030 on their renewable projects. This is likely to create several opportunities for the Qatar solar energy market.
  • Government policy and favorable weather conditions in the country are expected to drive the Qatar Solar Energy Market during the forecast period.

Scope of the report

The Qatar solar energy market report include:

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Key Market Trends

Solar Photovoltaic (PV) to Dominate the Market

  • In 2018, approximately more than 5% of the total renewable energy generation was from solar photovoltaic (PV), producing 8.36 Gigawatt-Hour (GWh) of electricity. This makes solar photovoltaic (PV) type expected to be dominating Qatar's solar energy market.
  • In 2020, 800 megawatts (MW) Al Kharsaah solar photovoltaic (PV) power project was awarded; it is the first large scale solar power plant being developed in Qatar. The project is owned by Siraj Energy (a joint venture company), Marubeni and Total, under the build, own, operate and transfer (BOOT) model for 25 years. The license to own and operate the project is expected to expire after the 25-year term, and the ownership of the power plant is likely to be transferred to Qatar General Electricity & Water Corporation (Kahramaa). The project is expected to be complete by 2022.
  • Qatar has a vast desert area, which makes a perfect place for the installations of solar photovoltaic (PV), and approximately two-third time of the year, it has sunlight.
  • Therefore, from the above projects, the solar photovoltaic (PV) segment is likely to dominate the market during the forecast period.

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Government Policy and Favorable Weather Conditions to Drive the Market

  • In 2018, approximately more than 140 gigawatts-hour (GWh) of the energy generated in the country was from renewable energy sources. The government of Qatar committed to increasing its renewable generation to 20%, by 2030.
  • In 2018, the solar energy plant installed capacity was 5.1 megawatt (MW), which was higher than the installation capacity of 2013, 2.29 megawatts (MW).
  • Qatar, to cut carbon emissions and increase the use of different energy sources to generate electricity, has adopted the first renewable energy strategy, which focuses on giving priority to the renewable energy sector.
  • Qatar, in 2022, is hosting FIFA World Cup, for which country has planned to provide all electricity from solar energy in the capital, Doha. This initiative by Qatar was supported by FIFA investors to host the event using renewable energy only.
  • Every square kilometer (km-sq) of land in Qatar is receiving solar energy equivalent to 1.5 million barrels of crude oil in a year. The country also has a vast area of desert and an average daily sunshine time exceeding 9.5 hours and abundant free land space, which are the right conditions to build a large-scale solar power plant. During the summer, from May to July, the potential is over 6 kWh per sqm per day, and from December to February is about 3.5 to 4.4 kilowatt-hour (KWh) per square meter per day.
  • Hence, owing to the above points, government policy and favorable weather conditions of the country are expected to drive the Qatar solar energy market in the forecast period.

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Competitive Landscape

The Qatar solar energy market is consolidated. Some of key players in this market include Qatar Solar Technologies, Marubeni Corp, Total S.A, Qatar Solar Energy W.L.L, and Nebras Power Q.S.C.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Qatar Solar Energy Installed Capacity Forecast, in Megawatts (MW), till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 PESTLE Analysis

  5. 5. MARKET SEGEMENTATION

    1. 5.1 Type

      1. 5.1.1 Solar Photovoltaic (PV)

      2. 5.1.2 Solar Thermal

      3. 5.1.3 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures

    2. 6.2 Strategies Adopted by Key Players

    3. 6.3 Key Companies Profile

      1. 6.3.1 Qatar Solar Technologies

      2. 6.3.2 Marubeni Corp

      3. 6.3.3 Siraj Energy

      4. 6.3.4 Total S.A

      5. 6.3.5 Nebras Power Q.S.C

      6. 6.3.6 Qatar Solar Energy W.L.L

      7. 6.3.7 Al Emadi Solar

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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