Why Renewable Energy is Booming in Iran

Government measures appear to have been successful enough to attract foreign investors whose presence, according to Iranian officials, has increased following the nuclear deal. European firms from Germany, Italy and Denmark as well as companies from Norway, China and South Korea have either reached agreements or expressed readiness to cooperate with Iran to boost its renewable energy production.

Giles Dickson, the CEO of the European Wind Energy Association, who traveled to Iran in July, has also announced his organization’s readiness to encourage European investors to have a more active role in Iran’s renewable energy projects, particularly wind energy, as Iran enjoys high potentials in wind energy — even more so than Europe.

To learn more about why Iran has focused on renewable energy in recent years, Al-Monitor spoke with Mohammad Reza Babaee, an economic strategy expert in Tehran who believes that the importance of sustainable development and the necessity of supplying energy needs for future generations make the use of renewable energy more than reasonable.

“There’s a strategic need for oil and its refined derivatives in the future. At the same time, fossil fuels will definitely be used up, and renewable energy can gradually replace them to meet Iran’s growing household and industrial needs for energy,” Babaee said.

Pointing to the fact that renewable energy can also help the country have more control over possible price fluctuations in fossil fuels, Babaee said, “Other than being a source of improved energy security, renewable energy provides Iran with export opportunities as well.”

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