Cost of Renewable Power Falling Rapidly in Iran

The cost of producing renewable energy in Iran, similar to many other parts in the world, has declined 2.5 times in two years, deputy energy minister, Seyed Muhammad Sadeqzadeh, said Sunday.
Production of One megawatt of solar energy in Iran cost $1.5 million in 2016, but it has declined to $600,000 at present, the ministry website reported.
Lower costs have encouraged private companies to increase investment in the solar sector and as a result the share of renewables in the domestic energy mix has increased from 0.2% of total installed power generation two years ago to about 1% now.
More than 80% of the electricity needs are supplied by thermal power plants while renewables account for 670 megawatts. The share of renewable power is expected to reach 5% by 2022, Sadeqzadeh, head of the ministry’s Renewable Energy and Energy Efficiency Organization (aka SATBA), said.