Iran explores renewable energy to address energy crisis despite gas reserves
Iran is facing an energy crisis despite having the world's second-largest natural gas reserves. Officials are now exploring renewable energy options, aiming to operationalize 2,400 megawatts of a planned 12,000-megawatt program by next summer. The government plans to generate 30,000 megawatts of renewable energy over the next four years. However, financing remains a significant challenge due to a declining currency and ongoing sanctions. The Central Bank of Iran will facilitate funding, while the National Development Fund aims to provide $5 billion in loans. Experts note that while Iran has strong potential for solar and wind energy, the high costs of renewable projects may be unaffordable for many citizens. Some analysts suggest focusing on improving existing oil and gas infrastructure instead.