• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 6 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 11 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 14 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 3 hours How Far Have We Really Gotten With Alternative Energy
  • 15 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
Oil Prices Remain Rangebound As Volatility Fades

Oil Prices Remain Rangebound As Volatility Fades

Oil price volatility has fallen…

Warren Buffett Regrets Owning Electric Utilities

Warren Buffett Regrets Owning Electric Utilities

Buffett recognizes that the US…

Iran Falls Drastically Short Of Renewable Energy Target

Iran has met just one-fifth of its renewable capacity installation target for the five-year period between 2016 and 2021, also because the U.S. sanctions imposed in 2018 significantly slowed down clean energy projects, Tehran Times reports.

Data from the International Energy Agency (IEA) shows that as of 2019, most of Iran’s electricity generation came from natural gas, followed by oil, with hydropower a distant third, and nuclear power—generated by the only nuclear power plant in the country, Bushehr—an even more distant fourth.

Renewable energy, including hydropower, accounts for only 7 percent of Iran’s power generation, compared to a 90-percent share for natural gas, according to Tehran Times.

Iran’s five-year development plan 2016-2021 envisaged the Islamic Republic boosting its renewable capacity by 5,000 megawatts (MW). In 2021, the final year of the plan, Iran has achieved only one-fifth of this.

In addition, Iran was looking to become a regional hub of energy over the past decade.

However, foreign companies that returned to Iran after the 2015 nuclear deal backed off projects after the U.S. re-imposed sanctions on Tehran in 2018.

Related: Biden Administration Takes Aim At ‘Soaring’ Gasoline Prices

“Lack of financial resources and problems that we put in the way of investors are two important factors preventing the development of renewable energy and reducing the acceptance for investment in this sector,” Tehran Times quoted the vice-chairman of Iran Electrical Industry Syndicate (IEIS), Payam Baqeri, as saying.

Iran has installed 800 MW of renewables over the past five years. This year, it also suffers from power shortages as consumption soars, while power generation has declined.  

ADVERTISEMENT

Earlier this year, Iran banned air conditioning in Tehran’s state agencies as the country looks to save electricity consumption and prioritize electricity supply to homes and hospitals. The government is looking to prioritize electricity supply to residential areas and hospitals after Iran’s hydropower generation slumped this year because of a lack of rainfall.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News