Is iraq new energy an energy storage sector

How does Iraq's power sector perform?

Despite its vast energy resources, the performance of the country’s power sector is sub-optimal. Iraq’s power sector suffers from a double whammy: unsustainable growth in power demand, coupled with under-investment and a lack of reforms in generation, transmission, and distribution. The result is a growing mismatch between power supply and demand.

Does Iraq have a good power sector?

As a major producer, Iraq’s electricity sector is almost entirely dependent on fossil fuels, which account for more than 80% of power generation. Despite its vast energy resources, the performance of the country’s power sector is sub-optimal.

What is the future of electricity supply in Iraq?

The future of electricity supply in Iraq can be achieved through several pathways, but the most affordable, reliable, and sustainable approach involves reducing network losses by at least half, strengthening regional interconnections, utilizing captured gas in efficient power plants, and increasing the share of renewables in the energy mix.

Why is the energy sector a good investment opportunity in Iraq?

With the deficit in the energy supplied in Iraq, as well as the country’s geographical location, the energy sector is an investment opportunity that will lead to the creation of a many jobs, something which would be welcomed especially with the high rate of unemployment and poverty in Iraq due of the country’s mismanagement of resources.

How much solar energy does Iraq have?

Iraq possesses relatively longer daylight hours. The capital of Iraq, i.e., Baghdad alone receives >3,000 h of solar rays. The country received a solar intensity ranging between 416 W/m2/h (in January) and 833 W/m2 per hour (in June) .

Why is energy demand increasing in Iraq?

Iraq’s population increase is one of the significant factors for the increase in energy demand over the years. In the period from 1998 to 2018, Iraq’s population rose from 22.1 million to about 38.4 million, representing a 73.7% increase over two decades , rate of increase considered high by global standards.