Sustainable Development Policy Of Renewable Energy In Pakistan

The heavy dependence on imported fuels and the severe shortage of electricity have become a major obstacle to Pakistan’s socio-economic development.This has led to higher local fuel prices and limited the possibility of establishing new industrial zones.The gap between Electricity Demand and production in Pakistan is currently about 5,000-8000 MW.Hence,more sustainable and renewable energy sources are required to overcome the existing problem.Pakistan is endowed with potential renewable energy resources such as wind,solar,hydro,and biomass.These resources have the capacity to be key contributors to future energy production matrices,climate change reduction efforts and national sustainable energy development.The role of policy makers at this stage is crucial for not only assessing and reviewing the current strategies to minimize the electricity supply and demand gap,but also the need to develop future strategies,ensuring affordable electricity with efficient generation,transmission and distribution towards sustainable Renewable energy development in thecountry.Energy consumption in Pakistan is mainly dependent on conventional fuels that are usually imported and each increase in the oil prices in the international market results in a proportional increase in fuel prices in the country.This situation along with the concerns over the rapid depletion of country’s natural gas reserves has raised very serious concerns on availability of energy.This paper first analyzes the availability of alternative energy sources in Pakistan and the potential for the comprehensive development of sustainable energy systems.Secondly,the economic geography of Pakistan,energy and electricity development and energy security status quo is analyzed.Thirdly,based on SWOT method,the development situation of renewable energy in Pakistan is analyzed.Finally,based on the background,current situation and policy challenges of Pakistan’s renewable energy policy,the paper makes an economic analysis of its subsidies,and puts forward some policy recommendations on sustainable development of renewable energy in Pakistan in view of the market instability,financing difficulties,poor infrastructure and institutional obstacles faced by the development of renewable energy in Pakistan.The conclusion of this paper is that the advantage of renewable energy development in Pakistan lies in its large potential market capacity,and stakeholders pay attention to the development of the market;Disadvantages such as excessive market supply and demand gap,lack of resource development technology,etc.,the market development opportunities are the decline in photovoltaic power generation prices,investment market potential is huge,threats include serious power theft,debt chain and security problems,policy instability and inefficient management organization,on the basis of SWOT analysis and economic analysis,Pakistan’s renewable energy sustainable development policy must be multi-pronged,coordinated implementation.For example,energy subsidies should be shifted from the fossil energy sector to renewable energy,price policies for renewable energy development should be formulated,cooperation among relevant agencies should be strengthened,financing renewable energy projects should be promoted,the level of technology and information technology for renewable energy applications should be raised,and the whole society should pay attention to and awareness of its renewable energy development.