LAHORE: After failure in fulfilment of energy needs through other resources, the solar power can be an effective and commercially viable alternative resource for sustainability of 3.2 million small and medium enterprises (SMEs) in Pakistan.
This was stated by Reon Energy Limited CEO Inamur Rehman, while talking to the state-owned news agency, APP. He said that numerous sector-specific studies over the period have proven that widespread commercially available technologies such as solar power can ease the energy crisis.
With solar and wind power becoming increasingly competitive, various local banks have initiated credit facilities for green energy investments, he said, asserting that switching from fossil fuel to renewable sources could also prove to be both economically and technically beneficial for the SME sector.
Also, the recent feed-in-tariff policies have created opportunity for SMEs to emerge as a third party renewable energy provider through energy sales to the grid.
Inamur Rehman said that energy from diesel is very expensive and rendered the SMEs uncompetitive for which this sector would have to explore other sustainable alternatives. “With the recent technology improvements, solar and wind energy can provide a reasonable solution to meet the sector’s electricity needs.
Solar energy is easily installed and provides a commercially viable alternative. “It is necessary that we all work together to facilitate and fund renewable energy investments,” he observed.
