Solar panel prices see further drop in Pakistan

KARACHI: The prices of solar panels and lithium batteries in Pakistan have experienced a notable decline, as cooler weather and effective government policies contribute to a decrease in inflation.

According to market reports, the cost of lithium batteries has seen a 20% reduction. Previously priced at Rs400,000, these batteries are now available for Rs380,000, with expectations of further price cuts in the coming months.

Tubular batteries have also become more affordable, with prices dropping from Rs70,000 to Rs55,000 — a decrease of Rs15,000.

The trend of falling solar panel prices continues, with the cost per watt now hitting a record low of Rs28. This decline over the past year is attributed to various economic factors, as well as improvements in global supply chains.

Local suppliers remain optimistic that prices will continue to decrease, making solar technology more accessible to consumers.

In a recent statement, Federal Minister for Energy Owais Laghari revealed that Pakistan imported 8,000 megawatts of solar panels in the last year.

This is equivalent to approximately 30-35% of the electricity generated by China’s Three Gorges Dam, the world’s largest hydropower project.

In light of the expanding solar market, some companies are exploring the possibility of establishing manufacturing plants for solar inverters within Pakistan.

This move could potentially reduce dependence on imports and help conserve foreign exchange by increasing local production capacity for solar systems.

Experts believe that these developments signal a positive shift toward renewable energy adoption in Pakistan.

With lower costs and increased availability of solar products, the country is poised to enhance its energy security and move closer to sustainable energy goals.