Arab News
Arab News, Wed, Apr 16, 2025 | Shawwal 18, 1446
Saudi Arabia, Pakistan rank as top solar markets in 2024: report
Saudi Arabia:
Pakistan has joined the ranks of the
world’s leading solar markets, importing 17 gigawatts (GW) of solar panels last
year alone, according to the Global Electricity Review 2025 by Ember, an energy
think tank in the UK.
In 2024, for the first time, solar power supplied
more than 2,000 TWh of electricity, increasing by 474 TWh (+29 percent) from the
previous year. This was the largest increase in generation from any power source
in 2024. It took 8 years for solar to go from 100 TWh to 1,000 TWh of power —
and then just 3 years to pass 2,000 TWh, meaning that solar has now been the
largest source of new electricity globally for three years in a row.
Solar is now so cheap that large markets can
emerge in the space of a single year – as evidenced in Pakistan in 2024. Amid
high electricity prices linked to expensive contracts with privately-owned
thermal power stations, rooftop solar installations in Pakistan’s homes and
businesses soared as a means of accessing lower cost power.
“The country imported 17 GW of solar panels in
2024 to meet this growing consumer demand, double the amount imported the year
before,” the Global Electricity Review 2025 said.
“Within just a year, Pakistan became one of the
world’s largest markets for new solar installations in 2024.”
Pakistan’s case shows that the low-cost,
fast-to-build nature of solar power can transform electricity systems at an
unprecedented rate. Updated system planning and regulatory frameworks are needed
alongside this deployment to ensure a sustainable and managed transition.
In the Middle East, Saudi Arabia imported 16 GW in
2024, more than double the amount imported the year before. Oman saw the largest
percentage growth in imports in the region, with 2.5 GW of imports in 2024
representing a fivefold increase from the year before.
South Africa imported 3.8 GW of solar panels in
2024, following a record-breaking 2023 when 4.3 GW were imported as consumers
turned to the technology amid rising blackouts. Nigeria and Morocco imported 1.3
GW and 1.1 GW respectively, marking the first time that either country has
imported more than 1 GW in a single year.
The expansion of solar power is a worldwide
phenomenon, with 99 countries doubling the amount of electricity they produce
from solar power in the last five years. The majority of solar generation now
comes from non-OECD countries (58 percent), with China alone making up 39
percent of the global total.
Increases in generation have been achieved thanks
to the pace of capacity additions, the Global Electricity Review said. The world
installed a record 585 gigawatts of solar capacity last year – 30 percent more
than in 2023, and more than double the amount installed in 2022. Having
surpassed 1 TW of solar power in 2022, it took only two years to install the
next 1 TW.
“This is not just unprecedented for solar power –
it is a rate of growth that no power source has seen before. In fact, the solar
capacity installed in 2024 is more than the annual capacity installations of all
fuels combined in any year before 2023,” the Global Electricity Review 2025
report added.
As solar’s share of the global electricity mix has
risen to 6.9 percent of global generation in 2024, some countries are showing it
is possible to incorporate much larger amounts. There are now 21 countries that
generate more than 15 percent of their electricity from solar power, up from
just three countries five years ago.