The cost of installing a 5-amp solar energy unit starts at USD 3,000 but the price varies according to the raw materials used and the hours of power required.
Jessica Obeid, a consultant on energy policies, said recent years have witnessed a demand for solar energy by factories and companies in particular, with the aim of reducing the cost of electricity.
But this demand has remarkably increased among individuals and companies alike, in anticipation of the fuel crisis and the rise of prices of diesel and fuel, especially if Lebanon’s Central Bank (BDL), lifted its subsidies on fuel with the depletion of its foreign currency reserves.
Obeid stressed the need to support such projects because they would alleviate the citizens’ burden amid the stifling economic and financial crisis. She added that increasing the percentage of dependence on solar energy would reduce the demand on the state electricity network, which would decrease electricity production costs and fuel imports.
The parliament approved on Monday a loan of $200 million to pay for fuel for the state electricity company after a warning by the energy ministry that cash had run out for electricity generation beyond the end of the month.