Pakistan Cuts Solar Buyback Price After Chinese Panel Boom
- Nation sees mass solar adoption after power prices tripled
- IMF has asked Pakistan to make its energy sector sustainable
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Pakistan has lowered the rate it pays for electricity from solar users, after a massive boom had made the nation the third-largest destination for Chinese panels.
The Economic Coordination Committee reduced the price by almost two-thirds to 10 rupees a unit for new net-metered costumers to ease the growing financial burden on grid consumers, according to a finance ministry statement. The lower cost will be applicable to existing customers after their current agreements end with power suppliers, it added.