Solar panels prices drop ahead of summer season

ISLAMABAD: The prices of solar panels have witnessed a notable drop as the summer season approaches, giving relief to the masses wrangling from inflated electricity bills.

Reports indicated that the cost of solar systems ranging from 7 to 15 kilowatts has notably decreased, providing a much-needed relief to residents looking to harness solar energy.

According to recent media sources, the reduction in prices ranges from Rs100,000 to a substantial Rs200,000, reflecting a considerable shift in the market dynamics.

Specifically, the price of a 7-kilowatt system has been slashed by Rs100,000, now standing at Rs825,000, while a 10-kilowatt system is available at Rs1.125 million after a significant decrease.

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Furthermore, the cost of a 12-kilowatt system has been marked down to Rs1.4 million, and a 15-kilowatt system now comes at a reduced price of Rs1.6 million, both experiencing a noteworthy Rs200,000 reduction in their price tags.

This notable decline in solar panel prices comes as a welcome contrast to the previous month’s scenario when prices experienced a surge ranging from Rs75,000 to a staggering Rs300,000 due to escalating demand.

Last month, consumers found themselves grappling with higher costs, with a 7-kilowatt system exceeding Rs920,000, a 10-kilowatt system priced at Rs1.25 million, a 12-kilowatt system reaching Rs1.6 million, and a 15-kilowatt system standing at Rs1.8 million.