National Energy Efficiency and Renewable Energy Action for Lebanon
The energy efficiency prominence in Lebanon has undoubtedly witnessed a significant change in the past decade. The National Energy Efficiency Action Plan—NEEAP 2016–2020 sets the road map for Lebanon towards achieving its energy efficiency (EE) and environmental objectives, and includes a number of EE initiatives targeting the different sectors of the Lebanese economy. Among these initiatives is the continuous support of the Central Bank of Lebanon (BdL) through a national financing mechanism (National Energy Efficiency and Renewable Energy Action—NEEREA), a program that has achieved a breakthrough in the sector since its launch in 2010, and has successfully catalyzed the EE market in an unprecedented way, thus putting Lebanon a step forward towards its target of achieving a demand growth control in order to save a minimum of 5% of the total demand in 2020 as per the Policy Paper for the Electricity Sector published by the Ministry of Energy and Water in 2010, and a 10% reduction in power demand through energy efficiency in 2030 compared to the demand under the business as usual scenario as per Lebanon’s Intended Nationally Determined Contribution under the United Nations Framework Convention on Climate Change.
KeywordsFinancing Renewable energy Energy efficiency Green financing Policy Environment Lebanon Central Bank Green loans Subsidized green energy
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