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Pakistan Inverter Market (2024-2030) | Trends, Outlook & Forecast
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6 FAQs about [Pakistan Photovoltaic Market Inverter]
What is Pakistan's new solar PV auction plan?
In August 2023, the Government of Pakistan designed a new solar PV auction plan to deploy 9 gigawatts of solar PV power. This clean energy initiative will involve installing 6 gigawatts of large-scale solar PV projects, 2 gigawatts of medium-scale solar PV projects, and 1 gigawatt of rooftop solar PV capacity.
What is solar energy & how does it work in Pakistan?
Solar energy converts energy from sunlight into electricity directly using photovoltaics (PV) or indirectly using concentrated solar power. Due to the falling cost of solar modules and the number of upcoming projects, the utility sector will likely be the most significant part of the Pakistani solar energy market over the next few years.
Is solar PV a viable long-term solution to Pakistan's energy needs?
The country has been facing a significant energy de-ficit for the past decade, with power shortfalls stan-ding at 5 GW8 and load shedding across the country varying between 5 to 12 hours a day, with rural areas bearing the brunt of load shedding. Solar PV could be a viable and cost-efective long-term solution to meet Pakistan’s energy needs.
How many solar projects are there in Pakistan?
According to the Private Power and Infrastructure Board of the Ministry of Energy, seven 530-megawatt solar projects are operational and supplying electricity to the national grid. Pakistan's renewable energy mix consists of solar, wind, hydroelectricity, and bioenergy.
Which PV market segment is most price-sensitive in Pakistan?
Amongst the diferent PV customer segments in the Pakistan market, the residential sector remains the most price-sensitive, although a niche market does exist for high-quality products, particularly bateries and inverters. The industrial sector claims to prefer European products, since they are bankable and more reliable.
How much solar energy does Pakistan have?
According to the International Renewable Energy Agency (IRENA), Pakistan's total solar installed capacity was 1,244 megawatts as of 2023, an increase of 17% compared to 2021. The country's government has proposed several efforts to raise the percentage of solar energy.