Saudi Arabia Solar Energy Storage Market Size To Reach $728.01 Million By 2033: Outlook & Trends

(MENAFN- IMARC Group) The Saudi Arabia solar energy storage market size reached USD 160.43 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 728.01 Million by 2033, exhibiting a growth rate (CAGR) of 17.10% during 2025-2033. Growing renewable energy adoption and supportive government policies are driving demand for efficient solar energy storage solutions in Saudi Arabia.

Key Highlights

• Market size (2024): USD 160.43 Million
• Forecast (2033): USD 728.01 Million
• CAGR (2025–2033): 17.10%
• Rising integration of smart grid technologies and hybrid renewable systems is shaping Saudi Arabia's solar energy storage market, enhancing efficiency and scalability.
• Increasing renewable capacity targets and favorable government incentives are accelerating the adoption of advanced storage solutions across utility and commercial sectors.
• Lithium-ion battery storage segment dominates the market, owing to its high energy density, longer lifecycle, and rapidly declining costs.

How Is AI Transforming the Solar Energy Storage Market in Saudi Arabia?

• AI is revolutionizing Saudi Arabia's solar energy storage by improving energy demand forecasts and optimizing battery usage, leading to more reliable and efficient power supply management.
• The government's National Renewable Energy Program (NREP) boosts solar storage growth by awarding multi-billion-dollar projects integrating AI-driven battery energy storage systems (BESS) for grid stability.
• Companies like ACWA Power are deploying AI-backed solar projects worth billions, with advanced energy storage solutions supporting over 12 GW of solar capacity across multiple regions in the Kingdom.
• With electricity costs among the world's lowest, Saudi Arabia's investments in smart grids and AI-enabled storage technology enable efficient handling of peak solar production and energy balancing.
• Breakthrough innovations, such as Saudi Aramco's 1 MWh Iron-Vanadium flow battery operating in harsh climates, illustrate AI's role in enhancing solar energy storage resilience and supporting industrial-scale renewable use.

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Saudi Arabia Solar Energy Storage Market Trends and Drivers

• Growing integration of smart grid systems enables real-time energy management, enhancing efficiency and reliability of solar energy storage networks.
• Increasing adoption of hybrid renewable systems, combining solar with wind or conventional sources, ensures continuous power supply and optimizes storage use.
• Declining lithium-ion battery costs make advanced storage solutions more affordable, driving wider adoption across utility, commercial, and residential applications.
• Supportive government policies, including renewable energy targets and subsidies, encourage investment in solar storage infrastructure and accelerate market expansion.
• Rising demand for energy independence and resilience against grid fluctuations boosts interest in decentralized solar storage solutions in Saudi Arabia.

Saudi Arabia Solar Energy Storage Industry Segmentation:

The report has segmented the market into the following categories:

Type Insights:

• Lead Acid
• Lithium Ion
• Flow Battery
• Others

Installation Insights:

• On grid
• Off grid

Regional Analysis:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Recent News and Developments in Saudi Arabia Solar Energy Storage Market

• 2025 July: ACWA Power-led consortium signed agreements worth $8.3 billion to develop seven solar and wind projects totaling 15 GW, integrating advanced energy storage for grid stability across multiple regions in the Kingdom.
• 2025 April: Red Sea Global announced plans to build the world's largest 1,000 MWh battery storage facility to power a luxury regenerative tourism destination entirely with renewable energy 24/7, ensuring off-grid sustainability.
• 2025 January: Saudi Arabia commissioned its largest battery energy storage system in Bisha, a 500 MW/2,000 MWh facility with 122 prefabricated lithium iron phosphate battery units designed to withstand harsh desert conditions.

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