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Bloomberg Television

Pakistan’s Solar Boom Helps Millions, But Harms Grid πŸ’š

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a solar Rush has taken over Pakistan making it the third largest destination for Chinese solar panels this year $ 1.7 billion of Chinese solar equipment have made their way to the country’s factories households and even to its agricultural hardland that alone is more than a third of the nation’s total power capacity power prices have tripled for some since 2021 pushing Farmers to ditch diesel generators and pricey electricity for so solar powered irrigation pumps now they are saving 80% on energy the fast adoption could help the country save money on fuel Imports and move 60% of its energy mix to Renewables by the end of the decade but abandoning of the unreliable power grid in massive numbers could send Pakistan’s power companies into a dead spiral Pakistan’s energy sector is struggling financially after borrowing heavily from China’s belt and Road initiative in an effort to build up generation capacity the government says the reduction in demand is concerning and hopes to address the high tariffs that drove so many Off the Grid

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