Lebanese energy storage finance

How does energy affect Lebanon's economy?

Energy and electricity demand have weighed heavily on Lebanon’s economy. Imported fuel oil accounts for nearly a quarter of the national budget deficit, while electricity demand outpaces power generation capacity. Renewable energy technologies, in contrast, offer the prospect of clean, fully domestically sourced power and heat systems.

What does the IRENA report mean for Lebanese energy development?

Prepared by IRENA in collaboration with Lebanon’s Ministry of Energy and Water, and the Lebanese Center for Energy Conservation, the report aims to support the establishment of a clear and well-designed roadmap for the country's renewable energy development by 2030.

How does the Lebanese economy work?

The Lebanese economy has traditionally relied heavily on the service sector – focusing on banking, tourism, construction and real estate – and activities are mainly undertaken by private companies. Lebanon’s gross domestic product (GDP) was estimated at USD 53.6 billion (current USD) in 2017 (World Bank, 2019b).

Do distributed renewables affect Lebanon's economy?

However, the economic impact of distributed renewables should be measured based on unsubsidized cost estimates that are reflective of their real cost on Lebanon’s economy. Furthermore, the sustainability of the NEEREA mechanism is under pressure given the escalating fiscal crisis in Lebanon.

Can big data help Lebanese energy planning & strategy?

Although the concept of big data might sound alien in the Lebanese context, given the existing challenges faced by the sector and EDL, utilizing big data analytics can be a powerful tool to transition Lebanon into the next phase of its energy planning and strategy.

Why do Lebanese people use solar power?

Hashem is one of tens of thousands of Lebanese people who have turned to solar power in the absence of reliable electricity supplies from EdL. Panels have sprouted everywhere, from urban rooftops to rural monasteries and on electric scooters,to take advantage of Lebanon’s 300 days of sunshine a year.