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How Sustainable Is It To Invest In A Solar PV System In Pakistan?

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John Miller
How Sustainable Is It To Invest In A Solar PV System In Pakistan?

The commercial and industrial sector in Pakistan is increasingly investing in Solar PV (photovoltaic) systems for transforming their energy mix to more cost-effective and environmentally sustainable levels. However, they have still failed to utilize the available potential due to a lack of factors. This article will explore those underlying factors to explain Pakistan's solar energy potential and how it can significantly benefit the commercial and industrial sectors.

Availability of Solar Potential in Pakistan

Pakistan is experiencing the extreme challenges of climate change, due to which transition towards a clean and reliable power source has become imperative for the commercial and industrial sector. Research studies show that Pakistan has a solar capacity of about 1600 GW, approximately 80 times more than Pakistan's current non-renewable electricity production.

Therefore, the government encourages Solar Panel System installation to bring more green energy projects to the country. For example, China-Pakistan Economic Corridor (CPEC) proposed several solar energy plants to utilize solar resources and provide affordable renewable energy for Pakistan's commercial and industrial sectors.

Importance of Solar System

State Bank Financing Scheme

In July 2019, the State Bank of Pakistan launched a new subsidized financing scheme to make Commercial Solar Power Plants' installations more feasible. The government also aims to increase the renewables' share of electricity production by up to 30% by 2030. 

Benefits Of Solarizing With Commercial Solar Power Plants

Partnering with commercial solar system providers allows company owners to take advantage of lower electricity costs and the possibility of claiming clean energy credits in addition to their ability to promote the green attributes of their solar system.

Contribution Of Solar Power To The Industrial Sector

Rooftop solar panel system can support the companies to achieve their corporate social responsibility targets more sustainability. It offers smart designs to improve rooftop and gorund-mount spaces. Hence, with proactive design management to incredible energy transformation, solar solutions have become more efficient and sustainable for powering big companies.  

Guaranteed Savings With Zero Capital Investment

Power Purchase Agreements (PPAs) makes installing of solar PV system a more appealing proposition for companies without any element of distress. The industrialists do not need to invest any capital at the start, thus providing them with risk-free savings without any hidden costs attached.

Environmentally Conscientious Greener Solution

Solar panels do not emit any harmful chemicals, gas emissions, or waste resulting from their use, such as Carbon Dioxide, Nitrogen Oxides, Lead, Sulfur Dioxide, Arsenic, or Mercury. It also enhances your company's reputation for adopting natural energy and committing to environmental sustainability.

Solar Power Generation in Pakistan

Solar energy can solarize companies to cut down the bills and increase their power efficiency for benefiting the commercial and industrial sectors. A research study supported by "The Fundamental Research Funds for the Central Universities" compared the solar radiation intensity and wind speed monthly for a year in four major cities (Karachi, Lahore, Bahawalpur, and Faisalabad) of Pakistan. It showed how solar practices' advancement has gradually increased the demand for solar solutions in Pakistan.

Commercial Solar System

Any commercial business with solar panel system installation is perceived more valuable than the businesses operating on traditional energy resources. Hence, the same approach is practice on retailers, distribution facilities, offices, and commercial buildings to cut down huge electricity bills and hefty power generator expenses.

All-Inclusive Turnkey Solar Solutions 

One of the leading solar power services providers, Shams Power, offers all-inclusive turnkey solar solutions under Purchase Power Agreement (PPA). It incorporates premium solar power implementations, including solar design, solar financing, construction, commissioning, technology evaluation, and operations and maintenance of Solar Panel Systems. Commercial and Industrial customers can get the benefit of risk-free savings with zero capital investments and green electricity at a discounted rate from the Solar Panel System by going with Shams Power solutions.

Conclusion

Pakistan is generally a warm country with high solar irradiation levels. Many commercial and industrial companies now generate energy from Commercial Solar Power Plants. Green technologies like Solar PV systems can complement the electricity output and help them take significant steps towards a greener future. Lastly, the reformed State Bank policies for solar financing and flexible PPA solar installation plans have brought new opportunities in the solar industry, making solar PV systems more sustainable and scalable in Pakistan.

 

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