Amidst escalating power bills, the cost of solar panels in Pakistan has seen a significant decline, offering consumers a more budget-friendly alternative to conventional electricity sources.
This decrease in panel prices is anticipated to greatly alleviate electricity expenses for consumers. Dealers attribute the price drop to a surplus of equipment in the local market and a downturn in international rates, noting a 30% decrease over the past six months.
The price per watt has notably plummeted in the market, with panels now priced at Rs37 per watt, marking a sharp decrease from Rs80 per watt in 2022, according to dealers.
They also highlighted that the installation cost of a 5kW solar power system has become Rs215,000 cheaper, while the overall price for such a system has decreased by Rs430,000.
However, the prices of inverters and batteries have remained unchanged, and the downward trend in panel costs is expected to persist.
