Electricity prices in Pakistan have increased by 155 percent over the last three years, forcing a growing number of consumers to shift to solar energy, according to a new report released by the Competition Commission of Pakistan.
The report on Pakistan’s solar energy sector said expensive electricity, along with capacity payments and rupee depreciation, has significantly increased the financial burden on households and businesses.
According to the study, Pakistan has emerged among the leading solar panel markets over the past five years, with installed capacity reaching 35 gigawatts, while solar panel imports have crossed 50 gigawatts.
The commission noted that the shift toward solar has accelerated as consumers try to avoid rising electricity bills, with in some areas power bills now reportedly exceeding monthly house rents.
The report also highlighted that a large portion of solar usage in Pakistan remains undocumented, while substandard solar equipment continues to pose risks for both consumers and the market.
To address the situation, the CCP has recommended urgent upgrades to the transmission system, smart metering, and grid automation, along with faster implementation of competitive electricity market reforms and stricter action against low quality solar products.
The report further warned that climate related economic losses could rise significantly, potentially reaching 6 percent of GDP by 2050, while stressing that Pakistan’s solar energy potential is far greater than its current power needs.
Show this to legari not us. He claimed that rates were brought down.