Daily Times

Electricity price hike in Pakistan brings new chance for photovoltaic companies, says a report carried by Gwadar Pro on Wednesday.

“Our business has grown rapidly in the past two years due to about 90% of the people here have started using solar energy facing the high electricity costs.

On account of the large backlog of orders, our workers are working day and night to install and repair solar photovoltaic panels.

By now, we still have seven orders to complete,” said Muhammad, a solar photovoltaic panel installation contractor in Islamabad, who has been very busy recently.

The reporter learned that a principal cause that an increasing number of Pakistanis choose solar photovoltaic power generation is that the country’s electricity bills continue to rise, and no sign of any decline.

Data shows that in 2024, the average monthly electricity bill for Pakistani households is USD 350, while a year ago, the figure was USD 100.

In July, when the country received a new USD 7 billion loan from the IMF, the average price per unit of electricity for residential users rose 18%.

“Many residents are finding that electricity bills – typically a small portion of household expenses – are more than their monthly rent of USD 100 to USD 700,” said Samiullah Tariq, head of research at Pakistan Kuwait Investment Co.

In addition, during peak hours of electricity consumption, the country often suffers power outages, which also causes trouble to residents’ lives.

In contrast, the installation of household solar photovoltaic panels costs about USD 3,500, and the power generation is relatively stable.

“My family has installed photovoltaic panels. In the past, there were always power outages when the electricity supply was insufficient.

Even if without power outages, the current electricity bills are unaffordable for our living standard. Installing photovoltaic panels could obviously save electricity costs for a lifetime with a one-time investment. It is a cost-effective deal in any way,” Raja, from Rawalpindi, told the reporter.

Another solar panel supplier Syed Khan indicated that the sales of photovoltaic panels, which are mainly imported from China, are growing exponentially.