Lebanon ended 2017 with a total installed PV capacity of 35.45 MW, reflecting 50% growth over the previous year. In 2017, it added 11.6 MW. Total investment in the solar PV sector till the end of 2017 added up to $76.34 million, while the number of new projects per year increased to 352 in 2017, from just 25 in 2011, according to a United Nations Development Programme (UNDP) report, The 2017 Solar PV Status Report for Lebanon.
The annual publication from the UN agency says the industrial segment added the highest capacity – 10.78 MW – in 2017, followed by commercial, residential and lastly agricultural segments. The same order followed in 2016 when the industrial segment led the PV market in the Middle Eastern country.
As per the report, the turnkey price for solar PV fell steadily by 79% within 7 years, from $7.186 per kW in 2011 to $1.872 per kW in 2016, to $1.545 per kW in 2017. This was due to falling costs of solar globally as well as competitive auctions that have bringing down prices. In April 2018, Lebanon issued an expression of interest for up to 300 MW of solar plus battery storage capacity (see 300 MW PV+Storage Tender In Lebanon).
The report points out the growing presence of solar PV in the country's economy – at the end of 2017, 61 companies were reported to be working in Lebanon, a huge number compared to just 7 in 2008, and leading to the creation of at least 670 jobs.
The report is available on the website of UNDP.
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