Lebanon Businessnews News

Solar water heaters' market grows in 2011
Metn, Zahleh, and Nabatieh have biggest share
Share     Share on Facebook     Share on LinkedIn    
The solar water heaters market was valued at $18 million in 2011, with a total of some 12,200 heaters installed, according to a report published by the Global Environment Facility (GEF).

The report was compiled within an initiative by the GEF and the United Nations Development Programme (UNDP) in cooperation with the Lebanese Center for Energy Conservation (LCEC). The initiative is part of an agreement signed by the UNDP and the Ministry of Energy and Water in 2009. It aims to expand the use of solar water heaters locally.

The growth in the installation of solar water heaters is mostly attributed to the interest-free loan program offered as part of the initiative’s national financing mechanism, which involves the Central Bank and eight local banks. Up to 3,500 households benefited from these loans.

Solar water heater installations are distributed across the country, with most witnessed in Metn, Zahleh and Nabatieh. These installations save a total of 3.6 MW of energy, 18,400 tons of C02, and $3.7million per year.

The solar water heater with an average capacity of 266 liters costs around $1,500. It contains a solar panel collector that heats the water in a storage tank. Interested users should first apply for a loan at a commercial bank offering this service.

Reported by Nader Houella
Date Posted: Oct 17, 2012
Share     Share on Facebook     Share on LinkedIn