Here’s how Government of Pakistan is supporting solar energy
Pakistan has an extensive potential to produce wind and solar power. As reported by the World Bank, the country can meet its electricity needs by using only 0.071 percent of its area for power generation using solar panel systems. This speaks volumes of how solar panel systems are beneficial for the countries.
Accordingly, the country needs expansion in its solar system that will not only help in fulfilling its electricity needs but will also help in combating hikes in electricity prices. Over the years, the government in the country has also realized that the importance of the solar energy system and why it is important.
In 2020, the government passed the Alternative and Renewable Energy through which the government aimed to increase the production of electricity using renewable sources. The goal of the policy is to improve production rates from 5 percent to 20 percent by 2025 and eventually, 30 percent by 2030.
The government has also introduced net-metering in the country. Through net-metering, owners of solar systems can sell extra units of electricity to the national grid. In return, they can either earn on the units provided or get their bills reduced. Net metering is a very effective policy, as it prevents wastage of solar energy and provides extra energy to the national grid.
Using this policy, many homeowners have also started to adopt rooftop solar systems. Recently, the government has also launched its National Electric Vehicles Policy. Using this policy, the government aims to deal with the urban air pollution and provide incentives to the industry manufacturers to turn to renewable sources of energy. With this shift to electric vehicles, together with an increased focus on smart metering, the government is trying to upscale green energy solutions.
On the private level, various solar panel companies in pakistan and banks are joining hands to provide the easy financing solutions to their customers. Using these financing solutions, people can get solar systems at easy installation rates with more than 10 years of warranty service. In this way, companies are encouraging people to buy the solar systems because many people are worried about their budget despite wanting to shift to solar energy.
The government is also encouraging customers and companies to sign power purchase agreements. Through this contract, solar systems are installed on the property of the customers. The cost of procuring, installing, and maintaining the system is borne by the installation companies. The solar energy company or retailer then sells the electricity to the customer at a reduced rate. At the end of the agreement, which usually lasts from 10 to 25 years, that’s why customers can choose to buy the solar systems.
Accordingly, Pakistan has a lot of potentials to adopt and upgrade solar energy systems as its main source of electricity. Both residents and companies can benefit from this clean, sustainable, and affordable source of energy. Not only it is available in abundant amounts as Pakistan experiences long summers but it can also help the country in solving its energy crisis.
