How has the solar market changed in Lebanon?

Zooming in to the lebanese market, the solar installations have ascended appealingly from 0.33 MWp back in 2010 to 56 MWp in 2018. On the other hand, the prices have dropped significantly as shown in the graph below, which further fueled up the market.

How much do solar panels cost in Lebanon?

The average cost of solar panels in Lebanon is about $13,400 for a 5-kW system and $26,800 for a 10-kW system before the ITC, but the real cost will depend on stuff such as the kind of solar panels you want, what size system you need and how much energy you use.

How much does it cost to switch to solar power in Lebanon?

Here's how much it might cost to switch to solar power in Lebanon. The average cost of a solar system in Lebanon is 2.68 per watt. The average solar panel system size in Lebanon is around 8.9 kilowatts, meaning a cost of about $16,621 for a solar installation, or $23,768 before the 30% federal solar tax credit is applied.

What is the share of solar energy consumption in the MENA region?

The below graph demonstrates the share of solar energy consumption in the MENA region in 2018, by country Zooming in to the lebanese market, the solar installations have ascended appealingly from 0.33 MWp back in 2010 to 56 MWp in 2018.

How much does solar cost in the Middle East?

The last graph represents the drastic price drop of the solar modules along the years; from more than $60/Wp in 1976 to less than $0.25/Wp in 2019! Solar power continues to mark an incremental pace in the MENA. The Middle East Solar Industry Association (MESIA) has forecasted around $15 billion of solar power projects within the next five years.

What is the MENA region's solar power market worth?

MESIA has estimated the region’s solar power market to be worth more than $20 billion. As they state, the top five markets in the MENA region with the largest project pipeline include the UAE (58%), Egypt (23%), Jordan (10%), Morocco (6%), and Iran (3%).