Pakistan Soars Solar Power Market in 2024

In 2024, Pakistan underwent a remarkable transformation in its energy sector, rapidly ascending to become one of the world’s leading solar markets. This shift was propelled by a combination of soaring electricity costs, declining solar panel prices, and supportive government policies.​

Pakistan emerged as one of the world’s largest solar markets in 2024, importing 17 GW of solar panels double the amount from 2023. This surge was driven by rising electricity costs due to expensive thermal power contracts, prompting widespread adoption of rooftop solar systems across homes and businesses.

Globally, solar power generation grew by nearly a third, becoming the leading source of new electricity, with rapid adoption seen not only in major economies like China and India but also in emerging markets such as Pakistan and Saudi Arabia. Ember highlighted that falling solar and battery storage costs have made solar an increasingly attractive energy option.

Pakistan’s solar capacity rose from 321 MW in 2021 to over 4,124 MW by the end of 2024, indicating a major shift in its energy landscape. However, the report cautioned that without updated regulations and grid planning, this rapid transition could pose challenges for energy infrastructure and equity.

Ember concluded that Pakistan’s example illustrates how affordable, fast-deploying solar power can transform national electricity systems in record time.