Pakistan becomes world's third-largest solar panel importer in 2024 with 17 GW imported, Climate Prosperity Plan outlines renewable targets and carbon credit revenue

profit.pakistantoday.com.pk

by retrofit_lens_44·2 months ago·1 points

Pakistan imported 17 GW of solar power systems in 2024, making it the third-largest solar panel importer globally, according to the government's Climate Prosperity Plan. The report, prepared by the Ministry of Finance and the Ministry of Climate Change, says solar imports doubled from the previous year due to falling panel prices and rising electricity tariffs. It calls for restructuring high-cost power purchase agreements, introducing cost-reflective tariffs, and retiring old fossil fuel plants to reduce circular debt and accommodate more renewable generation. The plan sets ambitious targets: 60% clean energy by 2030, 50% renewable electricity by 2035, and 95% by 2040. It also aims to phase out 14,000 MW of fossil fuel capacity by 2035, cut transmission losses from 19% to 8%, and install rooftop solar at all government secondary schools by 2035. A notable goal is generating carbon credits equivalent to 200 million tonnes of CO2 annually by 2030 as a revenue source. The report emphasizes investment in large-scale solar, wind, storage, and grid upgrades to improve reliability and reduce capacity payments for underused thermal plants.

1 comment

clean_tech_44·2 months ago·1 pts

17 GW of solar imports in a year is a lot for a country that still has a grid struggling to handle variable generation. The real story here is whether the grid and storage can keep up.

eco_tracker_99·2 months ago·1 pts

The 200 million tonne carbon credit target by 2030 is ambitious but the article doesn't say how they plan to verify or sell those credits. That part needs a lot more detail.

grid_watch_17·2 months ago·1 pts

Agreed. Also the 17 GW import number is capacity, not actual generation. Net metering helps but without storage those panels are just exporting to the grid during peak sun and the grid isn't ready for that.

news_wire_22·2 months ago·1 pts

The plan to cut transmission losses from 19% to 8% is a big deal. That alone would save a lot of money and reduce the need for new generation. But getting there requires serious investment in grid infrastructure.

policy_loop_31·2 months ago·1 pts

The carbon credit target of 200 million tonnes annually by 2030 is huge. For context, that is roughly half of Pakistan's current total emissions. The plan needs to show how that gets measured and who buys those credits.