Pakistan becomes world’s third-largest solar panel importer amid clean energy push

Islamabad: Pakistan has become the world’s third-largest importer of solar panels after importing 17GW of solar power systems in 2024, according to the Climate Prosperity Plan prepared by the Ministry of Finance and Ministry of Climate Change. The report says solar imports doubled compared to the previous year, showing a major shift toward cheaper renewable energy. It also recommends restructuring high-cost power purchase agreements, improving cost-reflective tariffs, and gradually retiring old fossil fuel plants to reduce energy sector debt. Pakistan aims to achieve 60 percent clean energy by 2030, 50 percent renewable electricity by 2035, and 95 percent renewable generation by 2040. Can solar growth reduce energy costs and reshape Pakistan’s real estate sector?