Pakistan is now recognized as the sixth-largest solar market globally, driven by a growing reliance on renewable energy, especially solar power.
A recent report from the World Economic Forum (WEF) has highlighted this upward trend, suggesting that Pakistan could play a pivotal role in the global shift towards sustainable energy solutions.
The country’s advantageous geographical features, providing over nine hours of sunlight daily in many areas, are considered vital to the rapid proliferation of solar energy. According to the World Bank’s estimates, if Pakistan were to dedicate just 0.071% of its land to solar photovoltaic (PV) systems, it could fulfill its entire electricity requirements.
How China’s Solar Overproduction Is Bolstering Pakistan’s Energy Goals?
Despite these optimistic figures, renewable sources, including solar, wind, and biomass, currently account for only 5.4% of Pakistan’s energy consumption. The National Electric Power Regulatory Authority (NEPRA) indicates that hydropower is responsible for 25% of the national power mix, while fossil fuels dominate at 63%.
The WEF report points to several external elements contributing to Pakistan’s notable advancements in solar energy, foremost among them being the substantial decline in prices for solar equipment due to China’s overproduction of solar panels. Relying heavily on cost-effective imports to develop its solar infrastructure, Pakistan has emerged as the third-largest importer of solar products from China.
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The growing appeal of solar energy can be linked to a combination of domestic challenges and global economic factors. Pakistan’s energy sector has faced ongoing hurdles, including regulatory obstacles, frequent power outages, and unreliable energy providers. These issues have exacerbated the country’s energy crisis, prompting both the government and businesses to explore innovative solutions.
Shifting to solar energy is seen as a practical remedy for Pakistan’s energy troubles, offering the potential to address environmental issues while lessening dependence on imported fuels. Solar power is quickly becoming an essential part of the nation’s energy strategy, and experts believe that other developing countries could learn valuable lessons from Pakistan’s journey.
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