‘Renewable energy resources to save $3bln/year’

LAHORE: Pakistan can save up to $3 billion in a year if the country taps into the full potential of alternative energy resources and implements the energy reforms programs, a provincial minister said on Friday.

“Pakistan has great energy resources and with strategic planning and implementation to utilise alternative energy sources annual energy savings of up to 25 percent are possible,” minister for mines and minerals Punjab Sher Ali said, speaking at on “net metering implementation” in Pakistan.

The minister said net metering will allow proper functioning for savings and reduction in the load on the grid in addition to conserve existing resources of coal and natural gas. Jahanzeb Khan, additional chief secretary energy said the Punjab accounts for 68 percent of the power consumption in the country and thus regular awareness programs have been conducted under the umbrella of the Punjab Energy Department to give insights to the stakeholders and energy production companies.

An expert said net metering is a win-win for all the distribution companies as they don’t have to invest on infrastructure to cater peak load as solar/net metering supplies energy in daytime and peak of load is also in the day hours.

The Punjab Energy Efficiency and Conservation Agency hosted various seminars on energy related issues to enhance Punjab energy security and fuel economic growth by creating an environment that reliably meet the energy demands of all sectors of the provincial economy through a sustainable and affordable energy mix and its efficient use.