Recently, the Pakistan Government has been demanded to increase in incentives for the solar system. The main aim is to promote the country’s solar system. Additionally, the incentives will pave the way for a renewable energy future. So, the incentives include essential points like tax reductions and subsidies for solar panel installation. Responding to this, the Pakistan Government has launched incentives and policies for solar system installations. What things are included in the policies? Let’s explore this further!
What Inspired the Government to Launch the Policies for Solar System?
Definitely, some compelling reasons inspired the Pakistan Government to launch incentives and policies for solar system installations. But what exactly has inspired the Government to launch these policies? Well then, before we go through the policies, let’s know how this all started!
The Need for Climate-Friendly Policies in the Country
In 2022, it was industrially demanded that Pakistan urgently needs climate-friendly policies. It was suggested that the policies should be sustainable for all businesses. Most importantly, all the policies should be affordable for everyone. At the same time, the policies should aim to contribute to the growth of economic power in the country.
Furthermore, it was also stated that there is increasing awareness of solar panel installation among Pakistani people. However, in many cases, the expensive costs of initial investment still discourage people.
The Demand for Solar Panels in Pakistan
The industry demanded the Pakistan government for a new policy to incentivise solar panels installation. Why?
Because the country’s solar industry will not grow without help from allied industries. This means that the government will need to set up several industries. This way, the country can meet the demand for renewable resources, such as aluminium, copper, glass, silicon, and other materials. Then, if Pakistan can meet this demand and set this setup, the country will be able to settle its solar manufacturing chain.
Pakistan Needs to Use Its Solar Energy Potential
Pakistan is one of the countries in the world that are highly dependent on its energy imports. Another unfortunate fact to note is that Pakistan has low foreign exchange reserves. Accordingly, these two facts lead to a mix of energy and economic crisis. As a result, the people are suffering from high energy bills, inflation, and low socio-economic development. To address this, environmentalists recommended the country use sustainable and renewable energy sources.
Yes, to be noted, Pakistan has many potential renewable energy resources such as solar, hydro, and biomass. However, somehow, all these sources remain untouched. Well, this is the main reason why the government should support solar system installation. Additionally, the Pakistan government needs to give incentives for this sector to work more efficiently.
How Does the Pakistan Government Respond?
Indeed, the Pakistani government needs to face several challenges to fully harness the solar energy potential in the country.
The most important challenges the government must address are, such as:
- Lack of awareness about solar energy benefits
- The expensive costs of solar panel installation
- Inadequate grid infrastructure
Responding to this, the Engineering Development Board (EDB) is formulating a Solar Panels Policy. Overall, the policy is made to promote and meet power needs in the country.
So, what things are included in the policy?
A New 25-Year Energy Policy
Yes, the Pakistan government is working on a new 25-year energy policy. This policy seeks to have 20-30% of all energy derived from renewable energy sources by 2030. In addition, the policy also aims to reduce dependence on imported fuel products. And thus, we can expect to see an increased share of indigenous resources in the country.
Solar Is a Cheaper Source of Power Procurement
Pakistan’s power demand has reached 29,000MW over the total generation of 22,000MW. This surely creates a considerable gap between the demand and supply. Hence, it is all resulting in a great amount of load shedding in many areas of the country. This is where solar system installations come as a savior. Why?
Solar is a cheaper source of power procurement compared to other renewable resources. Hence, installing solar systems will be a wonderful way to reduce the amount of load shedding in the country.
What Is the Future of Solar System Installation in Pakistan?
So, what is the future of solar panel installation in Pakistan?
Well, there are some good points we should take note about Pakistan solar system installation, such as:
- Supportive government policies
- Increased foreign investment
- Technological advancements
Considering the points above, solar energy has the potential to revolutionise Pakistan’s power generation sector. Thus, it is the right time for all of us to participate in using the country’s sustainable and renewable energy sources. How?
One effective way for you to participate is by contacting Zero Carbon. As a reliable solar company, Zero Carbon aims to help the country shift towards sustainability. Moreover, Zero Carbon offers customised solar system solutions for industrial and commercial businesses.
By getting the best solar panel system, we are participating in the practices of the Government new policies regarding solar system installations. To get a free survey and comprehensive solar system installations from Zero Carbon, simply get your quote here!