Lebanon needs to move to a sustainable economic model based on green and smart energy. Such move will be transformational for our country and will positively impact our energy supply, reliability and security.
In addition, the local production of our energy will substantially reduce our foreign currency outflow (currently around $ 5 billion a year) and accelerate economic growth by more than 15% local value add by 2030. It will also create jobs and sustain research and technical know-how.
CHEAPER
Renewables are by far the cheapest form of energy available today in Lebanon and around the world. Our study conducted with AUB evaluated the cost of electricity produced by a large solar plant in Tfail to reach 4.2 to 5.3 cents/KWh (see this study in the ‘Related’ section to the right).
Such estimates make wind and solar production four to five times cheaper than our current heavy fuel production (4-5 cents/KWh vs. 18-20 cents/KWh) and twice cheaper than power produced by future gas plants (4-5 cents/KWh vs. 9-10 cents/KWh).
Source: Strategy& / AUB / LFRE
Related
REPORT
Leapfrogging to higher penetration of renewables
REPORT
Bankability large scale solar power plant Tfail, Lebanon
FASTER
Solar and wind plants are much faster to build. On average, a solar plant can be built in 18 to 24 months (from inception to commissioning) two to three times faster than gas powered plants. With a little more time, we could have a permanent fix that will last us 30 years instead the more expensive and polluting temporary fixes that have been promised for years in order reach 24 hour electricity availability.
Source: World Bank group/Scalingsolar.org
More Benefits
social impact
Health and environment
Clean transportation