Chinese solar firm eyes growth in Pakistan
Pakistan’s demand for solar energy is rising as both residences and businesses increasingly recognise solar power as a reliable and cost-efficient source of electricity.
According to official figures, Pakistan imported $1.11 billion worth of solar products from January to September 2023, equivalent to an estimated 4GW of modules. This coincides with the Private Power and Infrastructure Board (PPIB) releasing framework guidelines in September 2023 to expedite power purchase agreements for solar projects and integrate solar onto public building roofs.
In light of these developments, Trina Solar, a global leader in smart PV technology and energy storage solutions, anticipates substantial growth in the Pakistani market. This optimistic outlook is fuelled by reforms in solar initiatives, fluctuating fuel prices, and rapid advancements in solar technology. The company’s foresight is supported not only by market dynamics but also by a strategic focus on reducing solar project Levelised Cost of Energy.
The introduction of high-power modules, driven by technological breakthroughs aligns with the Pakistani market’s preference for high-power output modules.
Trina Solar has undertaken projects across Pakistan in various market segments, including residential, commercial, and industrial, and utility scale.
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Talking with a group of journalists on Monday, Trina Solar Asia Pacific Head, Dave Wang emphasises the company’s commitment to empowering diverse entities across Pakistan, fostering both economic prosperity and environmental stewardship. “Our mission ‘Solar Energy for All’ propels our commitment to delivering industry-leading modules, enabling our customers to achieve ‘grid parity’, making it more economical to generate electricity from solar modules than solely from conventional grids.”
Wang underscores the significant impact on households and businesses, saying that reducing the cost of electricity makes a substantial difference, especially given the recent surge in electricity prices over the last 18 months, driven by high fuel prices and general inflation. “Additionally, residences and businesses in areas experiencing prolonged power blackouts can now tap into an alternative source of electricity rather than relying solely on the grid,” he said.
To illustrate the financial benefits, Wang provides an example of a residential household with a monthly electricity consumption of 500 units, resulting in a monthly bill of approximately Rs20,000. “If the homeowner invests in a 5kW system generating 6200 units at a cost of Rs900,000, the potential savings will be of Rs341,000 annually, in this scenario, the modules would essentially cover their own costs within 2-3 years”.
Published in The Express Tribune, February 27th, 2024.
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