A booming consumption, and production, together with new ways of electricity generation, to come to the sector, Iran has a promising perspective in electric power industry.
Iran’s electricity domestic consumption and production rates have steadily grown together, since 1984. Consumption has constantly risen, and it is expected to rise at about 6 percent per year, for the following decade. Iran ranks 14th largest producer, and 17th largest consumer ) in 2015), of electricity in the world. With numerous projects underway, Iran has offered more incentives to encourage the dear Iranian and foreign investors to invest in electricity generation sector.
Iran is among the top ten manufacturers of gas turbines in the world. Iran has also achieved technical expertise to set up hydroelectric, gas, and combined cycle power plants. Not only is Iran self-sufficient in terms of power plant construction, but also has concluded a number of important contracts on implementing projects in the neighboring states.
Demographic trends and intensified industrialization have caused the electric power demand to grow by 8 percent per year. It has also been estimated that, Iran has the potential to produce at least 6,150 MWh of electricity by Wave power, generated by its coastline on Persian Gulf. Iran is also experimenting with electricity generation from organic wastes, and plans to build power plants using sewage and organic waste of domestic and industrial origin, as fuel. With nearly 300 clear sunny days a year, and an average rate of 2,200 kilowatt-hour solar radiation per square meter, Iran has a great potential to try out the solar energy, as well.
Endowed with all kinds of potentials in terms of renewable energy sources, Iran has a pool of opportunities to offer to dear investors, and ventures.
As of 2010, Iran had 8,500mWs of hydroelectric capacity, and 130mWs of wind energy capacity. In the same year, private companies had signed contracts to build more than 600mWs of biomass systems, and 500mWs of new wind energy projects.
In 2012, Iran allocated € 500 million from the National Development Fund to develop renewable energy projects.
Hydropower made up to 10,000 megawatts , or 14% of Iran’s overall energy mix, in 2015. The country is also able to build its water turbines, domestically.
Thanks to Iran's unique geographical position in the world, more than 90% of the country's soil enjoys enough sunlight to generate sufficient solar power, for 300 days a year. Iran, endowed with an average rate of 2,200 kilowatt-hour of solar radiation per square meter, brought it with an energy generation by solar power of 53 mWs, by 2005, and 67 mWs, by 2011.
As of 2013, Iran had more than 163 wind turbines, with an installed capacity of more than 153megawatt.
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