Amid surging demand attributed to escalating electricity bills, solar panel prices in Pakistan have plummeted significantly, facilitating consumers in opting for this cost-effective alternative.
The drop in panel prices is anticipated to alleviate consumers’ electricity expenses incurred through conventional power sources.
Dealers attribute the price decline to abundant equipment supply in the local market and a downward trajectory in global rates, noting a 30% reduction over the past six months.
They reveal that the per watt price has now dipped to Rs40 or higher in the market, with panels from various brands currently available at Rs37/watt—a stark decline compared to Rs80/watt in 2022.
Dealers highlight that the installation cost of a 5kW solar power system has decreased by Rs215,000, while the price of the system itself has seen a Rs430,000 drop.
However, there has been no alteration in inverter and battery rates.
This downward pricing trend is expected to persist.
Last month, the Power Division refuted rumors suggesting the government’s intention to impose a fixed tax on solar power.
Social media circulated reports alleging a proposal to introduce a fixed tax on solar electricity, with the CPPA recommending a Rs2,000 per kilowatt tax for solar panel installations in residential or commercial settings.
The Power Division dismissed these rumors as “baseless.”
While hinting at tariff reductions for solar net metering, the Power Division expressed concerns over the prevailing system, deeming it conducive to unhealthy investments in the sector.
