Tag: energy sector

Europe on track to smash solar power output record in 2025: Maguire

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solar energy

LITTLETON: Solar electricity production in Europe during the first quarter of 2025 was up by over 30% from the same months in 2024, setting the stage for full-year record performance from the region’s solar farms. Total solar electricity generation over the January to March period was nearly 68 terawatt hours (TWh), data from Ember shows, which was 32% more than the same period a year ago. Solar assets accounted for 8.2% of Europe’s utility-supplied electricity in March, up from 6% in the same month a year ago, which indicates that…

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OPEC+ to consider another accelerated oil output increase for June

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Oil falls

LONDON: Several OPEC+ members will suggest accelerating oil output hikes in June for a second consecutive month, three sources familiar with the matter told Reuters. Oil prices fell to a four-year low in April, weakened by a U.S.-China trade war and the unexpected decision by OPEC+, which brings together OPEC and other major producers such as Russia, to increase output by 411,000 barrels per day of oil in May. The figure was three times more than the group originally planned. Eight OPEC+ countries will meet on May 5 to decide the…

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Gold prices in Pakistan see biggest drop in history

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gold price

In a new twist in the US-China tariff war, the price of gold in Pakistan and world over has witnessed the biggest drop in history According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola saw a massive drop of Rs11,700 to reach Rs352,000. Similarly, the price of 10 grams of gold decreased by Rs10,031, bringing it to Rs301,783.  Also Read: Gold rate shatters all records in Pakistan – April 22, 2025 The global gold market has also witnessed significant changes, with the price…

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Maintaining the current solar net-metering policy can save $1.5-2 billion annually on the energy import bill, reduce circular debt by Rs400-500 billion by displacing costly fossil fuels, cut CO2 emissions by over 10 million tons per year, and support achieving Pakistan’s target of 60% renewable energy by 2030.

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solar net-metering policy

If the new net metering policy is implemented—reducing buyback rates or imposing additional charges—the future of Pakistan’s solar industry could face significant setbacks: In short: Investment will slow, growth will stall, and Pakistan will miss out on cheaper, cleaner energy opportunities.

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Solar energy in Pakistan: A boon or burden

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solar energy

Over the past decade, solar energy has transformed from a niche alternative to a mainstream energy source in Pakistan. With an estimated 22 gigawatts of solar panels imported in 2024 alone, Pakistan has emerged as one of the most promising solar markets in the Asia-Pacific region. The rapid adoption of rooftop solar, declining costs, and favorable sunlight conditions have propelled the country toward renewable energy. However, the transition has also triggered significant challenges for the national grid and policymakers, raising critical questions about the sustainability of this shift. The soaring…

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