Photovoltaic market incentives extended

Part of a UNDP grant

The Ministry of Energy and Water announced the extension of the partnership with the United Nations Development Program (UNDP) for the support of the photovoltaic market.

A $1.5 million grant will be offered by the UNDP and the Global Environmental Facility, in addition to a $500,000 supporting fund from the Ministry of Energy and Water. The project allows for the establishment of de-centralized renewable energy production units, powered by photovoltaic cells in cooperation with CEDRO and the Lebanese Center for Energy Conservation, two specialized NGOs.

The photovoltaic incentives program is also supported by many financial facilities, such as near-zero interest loans by the central bank and private banks on a long-term basis. The BDL has dedicated $150 million to support renewable energy and energy efficiency projects and green buildings. Around 3,600 Lebanese citizens benefited from the zero-interest loans provided by BDL.

“The project is also supported by the net-metering program provided by EDL, which allows customers to zero their power meters,” said Gebran Bassil, Minister of Energy and Water.
The project, launched in 2002, is targeting the implementation of a solar-powered energy program, through the National Energy Efficiency and Renewable Energy Action (NEEREA) mechanism. It has so far succeeded in installing 43,500 square meters solar water heaters, benefiting 12,179 families.