Saudi Arabia consumes a significant amount of oil domestically for transportation and energy generation purposes. The booming population and high power consumption contribute to a sharp increase in power demands. The Saudi electric utility is investing heavily in upgrading the power grid and generation infrastructure to keep up with surging consumption. The desert belt in Saudi Arabia is exposed to substantial levels of solar irradiance, which renders Saudi Arabia a good candidate for large scale solar energy schemes. Upper and lower limits of cost and energy output are to be estimated for such ambitious endeavors to enter the national and international conversations. In this work, an attempt was made to estimate the area of photovoltaic panels and levelized energy cost required for generating the peak load and baseload power demands of the entire country and contrast them against the subsidized and unsubsidized cost of electricity in the kingdom. The levelized energy cost was found to be higher than the unsubsidized cost of electricity in the kingdom. The area required for both schemes was not found to be a limiting factor when compared to the available land area.