Pakistan and China Collaboration to Boost Solar Panel Manufacturing for Green Energy Generation

May 14, 2024Zayn0

The Pakistani government has announced plans to begin manufacturing solar panels in Pakistan in partnership with China’s public and commercial sectors. This is a significant step towards producing green energy and expanding Pakistan’s influence in the increasingly climate-smart global arena. Additionally, the program will assist Pakistan in reducing its yearly import bill of $27 billion. Let’s discuss this collaboration.

10-year policy plan Alternate Energy Development Board

The ten-year policy on the manufacturing of solar panels and related equipment has been finalized by the Alternate Energy Development Board.

Government’s Renewable Energy Goals by 2030

The manufacturing of solar panels, aided by China, would allow Pakistan’s government to deploy 9.7GW of renewable energy power generation systems across the country by 2030. Strong policy stability and government assistance will offer a strong assurance for the growth of businesses in this sector.

Federal Law Minister Nazir Tarar -Reduced Import Duties and Increased Solar Panel Production

Federal Law Minister Nazir Tarar announced at a National Assembly session that the government intends to begin producing solar panels with Chinese assistance. According to Nazir Tarar, there is no longer a tax on solar panels, energy theft must be stopped, and line losses must be decreased. It should be mentioned that there is a noticeable trend in the country toward more people using solar panels as power prices rise.

Pakistan’s Solar Potential and Cost-Effectiveness

Pakistan ranks 49th in the world with a practical solar potential of 4.713 kWh/kWp. This indicator shows how well Pakistani solar power generation systems work and how well they can transform sunshine into useful electricity.

It is imperative to emphasize that solar power in Pakistan has an average levelized cost of electricity (LCOE) of 0.09 USD/kWh, which is significantly lower than traditional fossil fuel-based electricity generation.  Pakistan can further optimize its solar energy systems, making them even more economically viable, with a range of 0.08 to 0.11 USD/kWh.

PM Shahbaz Sharif Initiatives and Task Force:

A task force on solar energy initiatives has also been established by PM Shahbaz Sharif with the goal of advancing green and sustainable energy.

In summary

To end the protracted power outages, the government is developing a comprehensive solar energy package that includes tax breaks and consumer-only loans at a discounted rate and Pakistan will greatly benefit from this.

Zayn

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