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Pakistan solar energy market is experiencing unprecedented growth, with prices dropping to an all-time low of Rs 28 per watt. Federal Minister for Energy Owais Laghari revealed that the country imported a staggering 8,000 megawatts (MW) of solar panels in just 12 months, equivalent to nearly a third of the world’s largest hydropower plant, China’s Three Gorges Dam.
Read Also: Pakistan Secures $9.81 Billion in Foreign Loans Over Five Years
Solar Energy Demand Soars in Pakistan
The Pakistani market’s appetite for solar energy is skyrocketing, driven by:
1. Rising electricity costs
2. Increasing awareness of renewable energy benefits
3. Government incentives for solar adoption
Karachi Leads the Charge
Karachi’s solar panel prices have hit rock bottom, with other major cities like Lahore following suit. Local suppliers predict further price reductions, making solar energy an attractive option for:
1. Households seeking energy independence
2. Businesses looking to reduce utility bills
3. Industrial consumers requiring reliable power
A Step-by-Step Guide to Buying Solar in Pakistan
For consumers interested in transitioning to solar power, experts recommend:
1. Assessing energy needs and peak load requirements
2. Choosing between on-grid, off-grid, or hybrid systems
3. Selecting system sizes (small, medium, or large)
4. Picking components:
– Solar Panels (monocrystalline or polycrystalline)
– Inverters
– Batteries (Lead-Acid or Lithium-Ion)
– Charge Controllers (MPPT or PWM)
– Mounting Structures
Financial Incentives for Solar Energy Adoption
1. Net Metering: Sell excess electricity back to the grid
2. Government Subsidies: Investigate potential tax rebates and incentives
Key Statistics:
– 8,000 MW solar panels imported in 12 months
– Rs 28 per watt price point in Karachi
– 30-35% of Three Gorges Dam’s electricity output
– Rising demand drives price drop