Pakistan ranks among top solar markets amid rising electricity costs

As households and businesses in Pakistan seek relief from soaring electricity bills, the country has rapidly emerged as a significant solar market. In just two to three years, Pakistan has become one of the largest importers of solar panels globally.

According to the World Economic Forum, Pakistan imported 13 gigawatts of solar panels during the first six months of the current fiscal year, making it the third-largest importer of Chinese solar panels. The volume of imported panels now exceeds 30% of the country’s total power production capacity, which stood at 46 gigawatts in 2023.

The growing demand for alternative energy sources due to high electricity costs is a key driver behind this shift. Additionally, a 90% drop in solar panel prices over the past decade has made solar energy more accessible. Government policies, including removing the 17% sales tax and introducing net metering, have further accelerated solar adoption.