Solar panel prices in Pakistan have reached an all-time low. The price of solar panels per watt increased from Rs 30 to Rs 32.
It should be noted that in April this year, the price per watt was Rs 39 to Rs 40, after which a slight decrease was seen in May and the solar panel plate which was available at Rs 80 per watt two years ago became available at Rs 37.
The fall in solar panel prices is due to excess supply in the domestic market and 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 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 of a drop as importers have refused to lower prices for domestic 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 forced thousands of consumers to switch to cheaper and more reliable solar energy solutions.
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