Energy plays a crucial role in human development and all major industries and sectors of a country need an uninterrupted supply of electricity to keep things running.
Pakistan is currently struggling with a serious energy crisis and has a huge shortage of renewable sources of electricity. However, solar energy has a lot of potentials to fill this gap and bolster the country's economy.
Cost-Effective
Rooftop solar is a cost-effective solution for industrial and commercial enterprises. Businesses can save money on their energy bills by installing a solar system, which can be implemented with the help of PPAs.
Unlike traditional grid power, rooftop solar systems provide a guaranteed saving from day 1. This means that businesses can reduce their expenses in the long run by switching to renewable energy.
Furthermore, rooftop solar allows for the flexibility to adapt to changing business needs and budgets. This is a key benefit for industries in Pakistan, as it allows them to implement customized solutions that fit their unique requirements.
Solar is an excellent option for the industrial sector, as it is a renewable and clean energy source. It can help ease the country’s existing energy shortage problems.
Environment-Friendly
The industrial sector of Pakistan is facing severe electricity shortages, leading to a loss of production and employment opportunities. Long power outages and load shedding cause energy resources deficit, which affects all sectors of the economy and hampers development.
Solar energy has the potential to solve these problems as it’s environmentally friendly and can help reduce greenhouse gas emissions. It’s also more cost effective than traditional electricity, reducing the country’s reliance on fossil fuels and increasing energy access to industries in Pakistan.
To increase the use of rooftop solar, ADB supported schools and healthcare units in rural areas to install solar panels through its Access to Clean Energy Investment Program. Currently, over 12,000 public schools in Punjab and 2,000 in Khyber Pakhtunkhwa are using solar power to improve their learning environment.
Earlier this year, the government approved net-metering – a policy that allows consumers to sell their excess solar-generated electricity back to the grid. It’s expected to spur rooftop solar adoption and cut power shortages in the long run.
Increased Productivity
Energy plays an important role in the development of any modern economy. It is essential for all human activities such as education, health care, agriculture and employment. In Pakistan, the lack of adequate energy supply has impacted all the sectors and caused immense economic losses to the country.
Moreover, huge dependency on fossil fuels causes environmental hazards such as global warming and CO2 emissions. Therefore, the country must move towards a renewable energy system to avoid these negative impacts.
In order to achieve this goal, the Government of Pakistan has undertaken a substantial expansion of electricity generation capacity. This will satisfy growing energy demand from power, transport, heat and desalination sectors.
Solar power can play an important role in this transition, especially in the northern regions of the country where winter is harsh and power is a serious issue. Rooftop solar can also help reduce transmission costs.
Boosted Exports
A developing country like Pakistan needs a massive amount of energy to fulfill the basic requirements of the society. However, the country has been facing a severe energy shortage and is experiencing a number of problems including long power outages and high energy bills.
Solar energy is a cost-effective alternative to conventional electricity generation methods in Pakistan. It is also more environmentally friendly than coal and other fossil fuels.
To reduce the carbon footprint, the government is focusing on promoting renewable energy sources. In addition, it is also implementing policies to boost the production of solar equipment.
The primary energy demand of the country is expected to increase by more than 98% by 2050. Electricity plays an important role in the transition towards a completely sustainable energy system.
