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ISLAMABAD: As the demand for solar panels surged in Pakistan, the country has rapidly emerged as one of the largest markets for solar consumers in just two to three years.
According to the World Economic Forum, Pakistan has imported 13 gigawatts of solar panels during the first half of the current fiscal year, making it the third-largest importer of Chinese solar panels globally.
According to the details, the import volume of solar panels accounts for over 30% of the country’s local production, which was 46 gigawatts in 2023. The past decade has seen a 90% drop in solar panel prices, further accelerating the country’s shift towards solar power.
The surge in solar panel import was driven by the government’s pivotal role in eliminating a 17% sales tax and introducing a net metering policy, thus speeding up the solarization process.
However, the rise in electricity costs, exacerbated by irresponsible agreements with Independent Power Producers (IPPs), has further fueled the need for alternative energy sources.
