Iran's solar investments grow to USD 60m this year - report

Jul 3, 2014 - The Irani government is to pour some USD 60 million (EUR 44m) in solar projects this year, as compared to only USD 12 million a year back, as the country is turning its attention to green energy, The Associated Press (AP) said Tuesday.

Already, the government has installed solar systems on the roofs of mosques, schools and government buildings. According to the report, thanks to the falling solar panel prices solar energy is now more affordable in parts of Iran than the subsidised fossil fuels.

The AP cited Jafar Mohammadnejad, a senior Energy Ministry official, as saying that President Hassan Rouhani's administration has introduced incentives for renewable energy investors recently. As part of the plan, consumer electricity bills include charges to subsidise the green electricity. According to Mohammadnejad, officials are hoping for the country to produce 5,000 MW from renewables in two years.

Iran has around 300 sunny days per year. It is no clear how much of the country’s power is producing using alternative energy sources. According to Saman Mirhadi, a senior government official overseeing the solar segment, the change is to happen, the AP said. The government's efforts are especially focused on solar projects for rural communities in remote areas.

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