The prices of solar panels in Pakistan reached the lowest level in history. The price of solar panels per watt increased from Rs 30 to Rs 32.
It should be noted that the price per watt was Rs 39 to 40 in April this year, after which a slight decrease was seen in May and the solar panel plate which was available at Rs 80 per watt 2 years ago became available at Rs 37.
The fall in solar panel prices is due to excess supply in the domestic market and a fall in international prices.
Sources familiar with the matter said that the reduction in the rate was due to a large drop in the prices of lithium batteries worldwide.
This means that the 180-watt panel which used to cost Rs 15,000 is now available for Rs 5,500 only. It should be remembered that some time ago the price of solar panels in Pakistan had reached 80 rupees per watt.
The price of lithium batteries has fallen by about 50% in the international market over the past 12 months.
While this has significantly affected domestic solar panel rates, dry cell rates have not seen much reduction as importers have refused to lower prices for local buyers.
From 2023, Pakistan’s solar energy market has grown massively with imports from China helping importers meet the growing demand for net metering in the country.
Expensive grid electricity has driven thousands of consumers to switch to more affordable and reliable solar energy solutions.
