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Loans for Solar Water Heaters on the Rise

  The solar water heaters market is witnessing a new momentum in the Lebanese market. According to the latest LCEC statistics, the month of December  scored a remarkable 600 loan requests for solar water heaters. The loan requests are submitted to the Central Bank of Lebanon (BDL) through 5 active2015 Lebanese banks. The LCEC team at the Ministry of Energy and Water is reviewing the loan requests to assess the eligibility of the systems to be granted the  USD offered by the Ministry. It is noted that whereas the solar water heating market was counting on loans during the period 2010-2013, currently the200 USD market is heavily dependent on cash payments due to the big benefits of solar water heaters. The annual installations of solar water heaters in Lebanon are estimated at around 12,000 to 13,000 units (around 70,000 square meters annually).

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