In recent times, renewable energy and green alternatives have become cheaper and better in quality, making them more feasible to replace fossil fuels. This is especially true for Electric Vehicles (EVs) and Distributed Solar Photovoltaic (DSPV) systems. Finance plays a crucial role in making the transition to these green technologies, however the process of obtaining funds is extremely challenging and complex for the adopters. There are disagreements and complications between financial institutions and ‘borrowers’ who are seeking to get financing thereby creating multitude of challenges.

These challenges, along with the high cost of green products, pose significant barriers for the adopters who want to switch to these sustainable technologies. To make this shift happen smoothly and affordably, we need smart financial strategies. The lack of accessible financing further increases in financially restricted contexts, causing risks of exclusion, inequality, and inefficient outcomes. Similarly, challenges in capital availability, lack of foreign investments, and poor infrastructure also restrict the scale up of these technologies.

A project led by PRIED, with the support of Agora Energiewende, has been extensively analysing these barriers with the objective to provide proposals for refinement, as to accelerate DSPV and EV uptake in Pakistan. By shedding light on these challenges, the aim of this consultative workshop is to initiate the much-needed discourse around a facilitative financing facility for green products in Pakistan.

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