Solar panel prices drop further in Pakistan

KARACHI: Amid increasing demand due to sky-rocketing power bills, the prices of solar panels in Pakistan have fallen sharply making it easier for consumers to install the cheaper alternative.

According to dealers, the prices have crashed due to an ample supply of equipment in the local market and a downward trend in rates internationally, adding the rates have come down by 30% in the last six months. They shared that the per watt price has decreased to Rs40 or more in the market and panels of different brands are currently available at Rs37/watt — a massive decline compared to Rs80/watt in 2022.

The dealers said that installation of a 5kW solar power system now costs cheaper by Rs215,000 while the price of a 5kW system has decreased by Rs430,000. However, there’s no change in the rates of inverters and batteries.