Solar panels become affordable across Pakistan as prices drop significantly

WEB DESK: In a positive development, the strengthening of the Pakistani rupee (PKR) against the US dollar (USD) in the past week resulted in a significant drop in solar panel prices across a number of cities in Pakistan.

This positive development is expected to bolster the adoption of solar energy solutions across the country.

In Karachi, the price of the 165-watt solar panel has plummeted from Rs16,200 to an attractive Rs10,800.

Similarly, the cost of the 260-watt solar panel has seen a notable reduction, now available in the market at Rs26,000 compared to its previous rate of Rs30,000. Furthermore, the price of the 550-watt solar panel, which was once at Rs48,400, has been significantly slashed to Rs33,000.

This reduction in solar panel prices can be attributed to the government’s decision to eliminate all taxes on solar imports earlier this year, a move that has been well-received by both consumers and industry experts alike.

As a direct result of this policy change, solar panel prices have experienced a remarkable decrease from Rs135 per watt to an affordable Rs70 per watt.

In Islamabad, the 550-watt solar panel, previously valued at Rs75,000, is now available at a highly competitive price of Rs34,000, making it an attractive option for residents and businesses alike.

The solar panel industry, however, remains in a state of uncertainty, marked by conflicting statements from traders.

According to experts, the decrease in the dollar’s value in the global market has played a pivotal role in driving down solar panel prices.

This continuous decline in prices is paving the way for accessible and sustainable energy solutions for a growing number of consumers.

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According to Samaa, cities such as Multan and Quetta have also experienced the positive ripple effects of this market shift. In Multan, the price of a 555-watt solar plate has seen a significant reduction from Rs70,000 to an affordable Rs35,000.

Similarly, in Quetta, solar panels have become more accessible to the general populace, with the 150-watt solar panel witnessing a substantial drop from Rs14,000 to an economical Rs10,000.

Additionally, the 300-watt solar panel has decreased from Rs23,000 to a budget-friendly Rs17,000, while the 560-watt solar panel is now priced at Rs29,000, down from its previous rate of Rs35,000.

As the value of the US dollar continues to decline, the solar panel market in Pakistan is experiencing a commendable 20 per cent decrease in prices.

This trend not only makes solar energy solutions financially viable but also aligns with the nation’s broader goals of promoting sustainable and affordable energy alternatives for its citizens.