Solar panels factory opening in Armenia

(1tv, Horizon) – The solar industry in Armenia is growing at an impressive pace and is quickly becoming one of the main drivers of the national economy. The manufacturer Profpanel LLC, founded in 2012, has now begun its operations in Armenia in a solar panels factory, producing under the brand Solaron. Initially, these operations will focus on supplies to the domestic market, and later on, the company hopes, will expand to neighboring states such as Georgia and Iran, and then beyond, including Europe.

The project fits into the broader efforts by the Armenian government to move towards energy independence and greater energy efficiency. According to estimates, a family of four, consuming a monthly average of 200 KiloWatts, would require a solar system with a capacity of 1.5kW which would cost about $1500. Within 6 to 7 years, however, that same family could then choose to sell the power surplus to the state.