The NREAP 2016-2020 sets a goal of 1,054,000m2 of cumulative installed Solar Water Heaters (SWH) area. Until December 2016, the total area installed reached 525,000m2. The Lebanese market has been steadily growing since 2011 by almost 50,000m2 on a yearly basis. Since 2010, the Lebanese market of SWHs has more than doubled after relying on the loans and subsidies provided by the banks through BDL and the MEW.
Residential SWHs can opt for a low interest loan backed by BDL for systems that do not exceed 5,000$ in value. In parallel to this loan program, LCEC has been publishing a list of qualified SWH companies. Customers using the companies listed by LCEC may benefit from a 200$ rebate through the bank loan. This list is updated on a quarterly basis.
SWH projects exceeding 5,000$ can apply for a BDL subsidized loan NEEREA benefiting from low interest rates, long tenor and a grace period.
These financial schemes formed an important momentum to the SWH market albeit they form a small fraction of the installed capacity. This has encouraged customers to install SWHs after noticing their financial benefits and their fast return on investment.
In addition, LCEC is working on creating a Solar Ordinance to enforce the usage of SWHs on new developments.