2025 iraq energy storage policy

What is Iraq's energy supply like in 2022?

As of 2022, Iraqi energy supply is over 90% reliant on hydrocarbons, which also account for 95% of the country foreign exchange earnings. The global energy landscape is rapidly shifting towards cleaner alternatives, and the volatility of oil prices has made it imperative for the country to diversify its energy sources.

Can a green hydrogen-based energy system help Iraq achieve sustainable economic resilience?

The study investigates the potential of transitioning Iraq, a nation significantly dependent on fossil fuels, toward a green hydrogen-based energy system as a pathway to achieving sustainable economic resilience. As of 2022, Iraqi energy supply is over 90% reliant on hydrocarbons, which also account for 95% of the country foreign exchange earnings.

Does Iraq approve a $153 billion budget?

Ahmed Rasheed and Timour Azhari, Reuters, “Iraq approves record $153 billion budget including big public hiring,” June 11, 2023. International Monetary Fund, 2022 Article IV Consultation with Iraq, February 2023, Table 2, page 27. U.S. Energy Information Administration, OPEC Revenues Factsheet, June 2023.

Will Iraq have a capacity margin by 2030?

Where measures are taken to both curb demand and increase available capacity, Iraq could establish a capacity margin by 2030 (where available capacity exceeds peak demand). At that point, grid supply would be available to most consumers 24 hours per day.

Does Iraq need a green hydrogen economy?

Iraq faces a unique set of obstacles that must be addressed to ensure a successful and sustainable shift towards a green hydrogen economy. One of the challenges for sustainable country transition to a green hydrogen economy lies in its energy infrastructure, which relies heavily on fossil fuels.

Will Iraq's Electricity Supply increase in 2030?

Iraq’s electricity demand is set to double between now and 2030, and its shortfall in electricity supply will widen, as the country’s population grows by more than 1 million people each year.