Statistical Energy Information and Analysis of Pakistan Economic Corridor Based on Strengths, Availabilities, and Future Roadmap

In Pakistan, the performance of conventional electrical grids is inefficient, resulting in severe energy crises. To overcome the alarming challenges persisting in the energy grids, Pakistan must focus on system protection, grid reliability, distribution and transmission, and power quality. The inefficiencies in grid protection and management signify an overall problematic energy scenario. The solutions to these problems include the improvement of domestic, commercial, and industrial demand-side management and the reduction in distribution network losses. A smart grid (SG) is a critical requirement as it can overcome the shortcomings of the existing grid owing to its promising features, enhanced consumer empowerment, utmost security; efficient and optimized energy flow; and demand-supply management. Thus, the SG is essential to overcome the energy crisis in Pakistan and achieve the standards of other developed nations in the energy sector. This study aims to highlight the significant prospects of SGs within Pakistan with the key objectives of its availability requirements. We compare the energy scenario in Pakistan with that of other countries and recommend various aspects that require improvement through SG implementation. Additionally, we discuss the incorporation of renewable energy resources and present a market analysis regarding SGs to illustrate the SG scenario and its implementation in Pakistan. Moreover, we analyze and evaluate detailed taxonomies of energy generation, energy projects, renewable energy assessment, power market trends in Pakistan, and the basic requirements of SGs. Furthermore, a critical analysis of the energy sector in Pakistan is elaborated, which describes the possibilities, requirements, and strengths pertaining to the transformation of the modern electric grid with respect to the China-Pakistan Economic Corridor. Thus, we believe that our work is more versatile in improving the energy system of Pakistan for the implementation of the SG.