Pakistan has emerged as the world’s third-largest importer of solar panels, importing 17 gigawatts of solar capacity during 2024, nearly double the previous year’s level. According to the Pakistan Climate Prosperity Plan report jointly prepared by the Ministry of Finance and the Ministry of Climate Change, the country’s rapid solar expansion comes amid expensive electricity, mounting circular debt, and financial pressure across the energy sector. The report recommends reviewing costly power purchase agreements, introducing realistic electricity tariffs, and gradually retiring or converting old and inefficient fossil fuel power plants. Pakistan has also outlined ambitious clean energy targets, including increasing clean energy’s share in the overall energy system to 60 percent by 2030 and raising renewable electricity generation to 95 percent by 2040. The plan further targets lower transmission and distribution losses, nationwide electricity access, and solar systems for all government secondary schools.
