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3. Lebanon's Solar Energy Market Faces Sharp Decline

The solar energy market in Lebanon experienced a dramatic decline. In 2024, imports of solar panels dropped by 41% compared to 2023 and by 82% compared to 2022, according to data from the Lebanese Customs Authority. A record high was reached in 2022, with 5 million panels imported, while only 2.24 million were imported in 2024, valued at a significantly lower amount of just $75 million.

This sharp drop highlights the slowdown of a sector that had seen remarkable growth during the economic crisis. Experts suggest that several factors are behind this drastic decrease in demand for solar panels, including the stabilization of generator bills and the decision by their owners to operate them at full capacity, ensuring a continuous electricity supply 24/7.