Year: 2024

Record Drop in Prices of Solar Panels and Batteries Amid Declining Demand

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Solar-Panels

LAHORE: The prices of solar panels and batteries have seen a significant reduction in Pakistan due to a notable decline in demand. Market sources report that the cost of lithium solar batteries has dropped by up to 20%, with a battery previously priced at PKR 450,000 now available for PKR 380,000. Similarly, batteries that were sold for PKR 300,000 to PKR 400,000 are now being offered at a reduced price of PKR 200,000 to PKR 250,000. This price reduction is attributed to the entry of new companies into the lithium…

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Petroleum Policy Crisis Deepens Amid Leadership RiftAdditional Secretary Seeks Reassignment Following Conflict with Petroleum Minister

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petroleum-imports

ISLAMABAD: The Petroleum Division is grappling with a deepening crisis as internal discord over gas allocation policies and other pressing issues escalates. A rift between Petroleum Minister Musadik Malik and senior officials has resulted in the resignation of Additional Secretary Petroleum Zafar Abbas, further complicating matters. The tensions arose following a decision by a high-level committee led by Deputy Prime Minister Ishaq Dar to allocate 35% of gas to third parties with a cap of 100 million cubic feet per day (MMscfd). This policy was lauded by the oil and…

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Bridging Climate Finance Gaps: Pakistan’s Role in Global Carbon Markets

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Climate-Finance

ISLAMABAD: The 29th UN Climate Change Conference (COP29) in Baku, Azerbaijan, brought together 200 countries to address the critical issues of climate finance and adaptation challenges. Central to the discussions were the New Collective Quantified Goal (NCQG) and Article 6, both offering transformative potential for achieving global climate and development objectives. Building on the 2009 commitment of mobilizing $100 billion annually—a goal only met in 2022—the NCQG aims to unlock climate financing at a scale necessary to support vulnerable nations. Reports suggest that developed countries anticipate a trillion-dollar target to…

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WWEA Advocates for 100% Renewable Energy Strategy Beyond Tripling Targets at COP29

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Cop-29-3

Bonn/Baku— The World Wind Energy Association (WWEA) delivered a powerful call to action at the UN Climate Change Conference COP29 in Baku, urging nations to transition to a fully renewable energy future. Hosting the official side event Renewable Energy Transformation: From Tripling to 100% Renewable Energy, WWEA, in collaboration with the World Bioenergy Association (WBA) and the Confederation of Indian Industry (CII), emphasized the need for strategies surpassing the goal of tripling renewable energy capacities by 2030. WWEA highlighted the economic and societal benefits of transitioning to 100% renewable energy,…

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GoodWe Launches Global Partner Summit at New Suzhou Headquarters to Propel Clean Energy Innovation

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Suzhou, China — GoodWe, a global leader in solar inverters and energy solutions, has inaugurated its first Global Partner Summit at its newly established global headquarters in Suzhou, China. Under the theme Empowering the Future of Energy Together: Opportunities, Challenges, and Collaborations, the summit brought together 500 industry leaders from across the globe to foster collaboration, share insights on industry trends, and showcase GoodWe’s latest advancements in renewable energy technologies. In his keynote address, Daniel Huang, Founder and CEO of GoodWe, highlighted the company’s commitment to collaborative growth: “Our partners…

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