- Pakistan ranks as the sixth-largest solar market globally, reflecting the country’s increasing focus on renewable energy.
- World Bank report shows that just 0.071% of Pakistan’s land dedicated to solar PV systems could meet its entire electricity demand.
- Pakistan’s solar adoption showcased its potential to become a leader in renewable energy.
Pakistan has emerged as the sixth-largest solar market in the world, highlighting the country’s growing focus on renewable energy, particularly solar power. A report by the World Economic Forum (WEF) underscores Pakistan’s potential to lead in solar energy adoption as global demand for sustainable energy solutions increases.
The World Bank notes that dedicating just 0.071% of Pakistan’s land for solar photovoltaic (PV) systems could fulfill the nation’s entire electricity needs, showcasing its vast untapped potential for solar power.
Despite this, renewable sources like solar, wind, and biomass currently represent only 5.4% of the country’s energy mix. Fossil fuels still dominate, contributing 63% of the country’s electricity, followed by hydropower at 25%, according to the National Electric Power Regulatory Authority (NEPRA).
Pakistan’s rapid solar market growth has been supported by favorable external factors, particularly the overproduction of solar panels in China, which has reduced costs for solar equipment. This has positioned Pakistan as the third-largest importer of Chinese solar products, allowing the country to expand its solar infrastructure affordably.
The push towards solar energy has been driven by the inefficiencies within Pakistan’s traditional energy sector, leading individuals, businesses, and policymakers to embrace solar power as a practical and cost-effective alternative. This shift highlights Pakistan’s promising future in renewable energy, offering hope for a sustainable and energy-secure nation.
[embedpost slug=”/gold-rate-in-pakistan-on-nov-27-up-by-rs1600-to-rs275900-tola/”]
