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Morocco Solar Market Outlook 2022

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In recent years, Morocco has worked hard to diversify its energy mix. This effort has been aided by several large-scale photovoltaic plants (PV) that have come online over the last few years. The country has ambitious goals for solar energy growth over the next few years and the market is likely to expand at a rapid rate. This article will give an overview of Morocco’s solar energy market and provide some insight into its future.

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Market Overview

Morocco is a country with great potential for solar power. Morocco has plenty of sunshine and desert land that could be used to build solar farms. Moroccan officials are committed to increasing renewable energy use. By 2030, 42% of electricity will come from renewable sources.

Morocco’s solar energy market is expanding rapidly. The installed solar PV capacity in Morocco was 1,058MW in 2018. This will rise to 3,058 MW by 2022. Morocco has several large-scale projects, including Noor Energy, the largest concentrated solar power plant in the world.

Morocco’s solar energy market looks bright. There is great potential for growth and the government supports this industry.

Morocco: Expected Market Growth

In the next few years, Morocco’s solar energy market is expected to expand significantly. The country’s strong commitment to renewable energy is responsible for this. Morocco set a goal to get 52% of its energy from renewable sources by 2030. The country is heavily investing in solar energy to achieve this goal.

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Moroccan authorities have been trying to create an environment that encourages investment in the solar energy sector. The government has a variety of policies and programs to encourage the sector’s development. They include the creation of a dedicated fund for solar energy and the launch of a feed-in tariff program.

Both local and foreign investors are interested in Morocco’s solar energy market. Numerous large-scale solar farms are already being built in Morocco. More are on the horizon. Morocco is on the right track to becoming a major player in global solar energy markets thanks to its strong commitment to renewable energies.

Morocco’s Key Market Drivers of Solar Energy Demand

Morocco’s solar energy demand is driven by several factors. The government’s commitment towards increasing renewable energy is one of the key drivers. The government set a goal to have 42% of electricity from renewable sources by 2027. This goal has driven investments in solar energy projects.

The high price of electricity is another important factor driving Morocco’s solar energy demand. Many households and businesses find solar energy more affordable than traditional electricity. Solar panels have also become more affordable in recent years. This makes them an attractive choice for consumers.

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Morocco’s sun shines so much that it is an ideal place for solar energy projects. Morocco enjoys over 3,000 hours of sunlight each year, making it one the sunniest countries on the planet.

These are the key drivers of Morocco’s rising solar energy demand and make it a major market for developers and manufacturers of solar panels.

Overview of Morocco’s Solar Energy Policy

Morocco has large solar energy potential. Morocco has a lot of sunlight and enough land to put solar panels. Morocco has a good infrastructure that includes electric grids, transportation systems, and skilled labor.

Morocco’s government has supported the growth of the country’s solar energy market. The Moroccan government made a commitment in 2013 to generate 40% of its electricity from renewable sources. This goal will create jobs in Morocco and boost GDP growth.

To meet this goal, the Moroccan government established a variety of policies to support the development and expansion of the country’s solar energy market. Feed-in tariffs (FITs) offer solar power producers high rates of compensation and tax breaks to encourage investments in renewable energy projects. In the next five years, the Moroccan government plans to invest $2B in renewable energy.

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These policies are helping Morocco’s solar energy market grow rapidly. The total number of installations in 2015 was 18 gigawatts (GW), which resulted in an increase of 9 GW annually. As more companies enter the market, this growth is expected to continue in 2016 as well as 2017.

Conclusion

The market for solar energy is forecast to grow at around 19% CAGR over the forecast period. This growth is due to rising awareness of climate change, government initiatives to encourage renewable energy sources and falling costs. Morocco is Africa’s leader in solar PV capacity. The country’s favorable geographic features, such as abundant sunlight, moderate temperatures, and high rainfall, make it an ideal place to install solar projects.

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