$18 million invested in solar PV market last year
A total of $18 million were invested in solar PV projects last year, according to the 2017 Solar Photovoltaic (PV) Status Report for Lebanon, recently released by UNDP.
By the end of 2017, the PV sector was worth more than $76 million and had reduced 84,000 tons of greenhouse gas emissions per year.
The number of solar PV projects has increased significantly since the launch of the National Energy Efficiency and Renewable Energy Action (NEEREA) funding program in 2010, when there were only 25 PV projects in the pipeline. There were 352 solar PV projects by the end of 2017.
The sector has 61 companies and employs at least 670 people.
The installed solar PV capacity, which equaled 470 kilowatt-peak (kWp) in 2011, grew to 35 megawatt-peak (MWp) in 2017.