Prices of Solar Panels in Pakistan Halve Abruptly
By
May 10, 2024
Solar panel prices in Pakistan have suddenly dropped to Rs. 37 per Watt, more than half compared to Rs. 80 per Watt in 2022.
The drop in prices is due to an oversupply in the local market and a decrease in international rates. Over the past six months, prices have decreased by nearly 30%, with panels from various brands now available at around Rs. 37 per Watt.
As a result of this drop, a 5kW solar power system is now Rs. 215,000 cheaper, reducing the overall price of a 5kW system by Rs. 430,000.
Rates for inverters and batteries remain unchanged.
This drop in prices comes shortly after the Central Power Purchasing Agency (CPPA-G) suggested imposing a tax on both residential and commercial solar power consumers. However, the Power Division later clarified that there wouldn’t be a fixed tax on solar power. Still, there are reports of reducing buyback rates for net metering electricity from Rs. 21 to Rs. 11 per unit.
