Pakistan sees major decline in solar panel prices

The prices of solar panels and lithium batteries in Pakistan have dropped significantly, a trend attributed to cooler weather and effective government policies aimed at curbing inflation.

These price reductions are expected to make solar energy more accessible to consumers and drive further adoption of renewable energy solutions in the country.

Market reports indicate that the cost of lithium batteries has decreased by 20%, with prices falling from Rs400,000 to Rs380,000.

Industry experts predict additional price reductions in the coming months, which could further lower the cost for consumers.

Similarly, tubular batteries have become more affordable, with prices dropping by Rs15,000, from Rs70,000 to Rs55,000.

The cost of solar panels has also reached a record low, with the price per watt now standing at Rs28. This decrease in prices over the past year is attributed to a combination of factors, including improvements in global supply chains and economic adjustments within Pakistan.

Local suppliers are optimistic that the downward price trend will continue, making solar energy systems increasingly affordable for households and businesses across the country.

In a related development, Federal Minister for Energy Owais Laghari announced that Pakistan imported 8,000 megawatts of solar panels over the past year, equivalent to 30-35% of the electricity generated by China's Three Gorges Dam, the world’s largest hydropower project. This highlights the growing demand for solar energy in Pakistan.

With the solar market expanding, some companies are now exploring the possibility of setting up manufacturing plants for solar inverters within Pakistan.