ISLAMABAD: Affordable Chinese solar modules accounting for 10,450 MW in the first half of 2024 has eased out pressure on Pakistan national grid system.
Inflow of financially viable Chinese solar panels in Pakistan have also made the people heave the sigh of relief upset by power outage as millions of people in Pakistan have been switching over to renewable energy paradigms powered up by Chinese solar bonanza.
Lahore Electric Supply Company (LESCO) official told Gwadar Pro that during the first half of 2024, Pakistan became beneficial of China inverters worth a total of RMB 1.714 billion. In August alone, the total value of inverter exports to Pakistan reached 326 million yuan, showing a year-on-year surge of 429.04 percent,” he added.
Positive results that came to fore due to Chinese solar panels in Pakistan market has let national grid system to breathe better as previously grid infrastructures that direly needed revamp across the country had to suffer frequent trips.
After the pressure ebbs, September generation on the grid went down 6 percent year-on-year to 12.1 billion units. It was down 17 percent year-on-year in August. September’s generation is the lowest for the month since September 2018. The 12-month moving average monthly generation fell below 10 billion units for the first time in 44 months. August of 2018 had a higher 12-month moving average than September 2024. This is the extent to which the grid demand has been eased out. And indeed credit goes to Chinese solar panels that are making a turnaround.
WAPDA official also told Gwadar Pro that nearly 30 percent of electricity consumption is now generated through solar power in Pakistan.
If Pakistan continue to receive affordable Chinese solar systems, installed solar capacity is expected to grow from 1.41 gigawatts in 2024 to 9.53 gigawatts by 2029, at a compound annual growth rate (CAGR) of 46.55 percent.
“This remarkable growth is driven by increasing adoption of Chinese’s solar PV systems. Additionally, reduced costs are making solar energy more accessible and affordable for residential, commercial, and industrial sectors. Rising environmental concerns are also shifting focus towards clean energy sources like solar power,” he added.
The Pakistani government has launched several initiatives to support the growth of the solar energy sector. The Alternative Energy Development Board (AEDB) has set a target of generating 30 percent of the country’s power from renewable sources by 2030. –Agencies
