Iraq s green energy storage battery cost performance

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.

Does Iraq have a shortage of electricity?

Two decades on from the 2003 U.S. invasion of Iraq, efforts to improve the country’s electricity infrastructure have lagged. Despite massive hydrocarbon reserves, including the world’s fifth-largest proved crude oil and 12th-largest proved natural gas reserves, Iraq struggles with chronic electricity shortages.

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.

What is a Green Investment Facility?

Implement a green investment facility for residential and commercial consumers, providing long-term financing with low interest rates for small-scale renewable energy plus storage. Jessica Obeid is an independent energy policy consultant and a non-resident scholar with MEI’s Lebanon and Economics and Energy programs.

How much power is added per year?

On average, 1 to 2 GW of power generation has been added per year, amounting to an annual growth rate of 5%; 1.4 GW was added between 2021 and 2022. A massive 13 GW was added between 2012 and 2018. But growth in power demand has outstripped the 5% annual growth in installed capacity, averaging 8% compared to a global average of 5%.