June 18, 2024

Iran to Build 15GW Solar Capacity with $8.3bn Investment

Iran is taking a significant step forward in renewable energy with an ambitious plan to develop 15GW of new solar capacity by 2030. This initiative which is centered around solar photovoltaic (PV) power stations marks a major shift in the countryโ€™s energy strategy.

Comprehensive Plan for Solar Power Expansion


Iran's Vice-President Mohammad Mokhber announced a policy to build PV power plants to generate 15GW of electricity, pending approval from the economic council. This initiative is part of Iranโ€™s broader effort to reduce dependence on fossil fuels and decentralize its energy infrastructure.

The solar project will be implemented in three stages at a cost of $8.3 billion, primarily funded by private sector investments. In addition to constructing solar power plants, Iran is enhancing its solar panel production capacity. The Islamic Republic News Agency (IRNA) reports the forthcoming opening of a 1.8GW solar panel production line, increasing the annual production capacity to 2.3GW. This expansion is critical for the large-scale deployment of solar panels needed for the 15GW project.

Vice-President Mokhber revealed that 23,000 hectares of land have been designated for solar farms, highlighting the significance of Iranโ€™s solar agenda. The annual value of the produced solar panels is estimated at $1.3 billion, providing a financial boost and enhancing energy security for Iran.

Environmental Impact


This large-scale solar project is expected to significantly reduce greenhouse gas emissions and minimize Iranโ€™s carbon footprint. Transitioning away from fossil fuel-heavy industries will facilitate a green transformation in Iranโ€™s economy. The project will also create numerous jobs across the renewable energy sector, from manufacturing and installation to maintenance and operations.

Mokhber emphasized that โ€˜made in Iranโ€™ solar panels are known for their high quality and efficiency, making them ideal for utility-scale solar farms. By producing high-efficiency solar panels, Iran can compete in the global renewable energy market.

The 15GW solar capacity expansion is a cornerstone of Iranโ€™s energy security strategy. Solar energy is essential for building national energy independence and reducing reliance on energy imports. Solar resources provide a reliable and viable source for stabilizing the national grid and supplying clean electricity to millions of households.

Importance of Solar Energy


Iranโ€™s efforts to triple its solar capacity will serve as a model for other countries in the region. As renewable energy becomes more integral to Iranโ€™s economy, there will be further opportunities to expand and innovate the sector -  with a greater role for the private sector.

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Importance of Solar Energy

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Iranโ€™s plan to develop 15GW of solar capacity demonstrates its commitment to solar power and sustainability. This strategy focuses on utilizing significant land areas for solar energy production, paving the way for a greener and more sustainable future.

The economic and environmental impacts of this project will be substantial, positioning Iran as a leader in the renewable energy sector. This ambitious move towards solar power will not only transform Iranโ€™s energy landscape but also set a precedent for significant changes in the global renewable energy market over the coming decades.

Boosting Local Economy and Job Creation


The development of 15GW of solar capacity is expected to create a significant number of jobs in various sectors; including manufacturing, installation, and maintenance of solar panels. This job creation will not only help reduce unemployment rates but also stimulate economic growth in local communities. The increased demand for solar panels will likely spur further investments in the manufacturing sector, leading to advancements in technology and production efficiency.

Furthermore, the solar expansion plan is anticipated to attract foreign investments as international companies may seek to participate in Iran's growing renewable energy market. This influx of foreign capital will enhance the country's economic stability and provide additional resources for further development of renewable energy projects

Disclaimer: The information published here is aggregated from publicly available sources. PVknowhow.com does not guarantee the accuracy, completeness, or timeliness of the content. If you identify any incorrect or misleading information, please contact us so we can review and, if necessary, correct it.


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