A Leading solar provider has committed to dig deep PV market in Pakistan.
“A total of 6,656 solar systems will be distributed in each district of Sindh province,” the Director of Sindh Solar Energy has confirmed.
Ali Majid, Pakistan General Manager of leading solar solutions provider LONGi, believes that it is undoubtedly good news for Pakistan’s photovoltaic industry, specifically, for Chinese PV companies that have been deeply involved in the local market.
The systems will include solar panels, charge controllers, and batteries. Currently, Sindh generates 400 megawatts of electricity from solar energy.
This project is expected to significantly increase solar power generation in the province.
“Nestled in a region blessed with ample sunlight, Pakistan boasts approximately 2.9 million MW of solar power potential,” Ali told in an interview with Gwadar Pro.
“And while the initial cost of solar technology has been a deterrent, the decreasing global cost is making it more economically viable for Pakistan.”
“Our government has been focusing on the development of large-scale centralized PV projects, including solar parks and utility-scale solar installations,” the GM added, “these distributed household PV systems will help to work in synergy with centralized large-scale PV networks, increasing the country’s overall renewable energy capacity and helping to diversify the energy mix.”
Photovoltaic power generation, as the best choice to solve Pakistan’s power shortage and optimize its energy structure to a great extent based on fossil fuels, while saving foreign exchange required for energy imports, has vast potential for future development.
For now, the solar energy market in Pakistan is experiencing rapid growth, with a compound annual growth rate (CAGR) of 49.68% expected from 2023 to 2028.
Government initiatives are aiming to increase the share of solar energy in the country’s energy mix, with a goal of obtaining 30% of the country’s power from renewable sources by 2030.
In recent years, the Pakistani government has successively formulated a number of related policies, thus the country’s photovoltaic industry has shown good development potential.
According to Pakistan’s long-term power plan – the Indicative Generation Capacity Expansion Plan (IGCEP), the cumulative installed capacity of photovoltaics will reach 12%, or 13.2GW, by 2030, and the government will continue to provide maximum support for renewable energy projects.