Solar panel prices in Pakistan have plummeted to Rs. 30-32 per watt, marking the lowest level in the history of the industry.
This price drop is attributed to an oversupply in the local market and declining international rates. According to informed sources, the reduction is largely due to a significant decrease in the global prices of lithium batteries.
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In the past year, the price of lithium batteries has fallen by nearly 50% in the international market, greatly influencing domestic solar panel prices. However, dry batteries have not experienced similar price reductions, as importers have been reluctant to lower prices for local buyers.
Since 2023, Pakistan’s solar energy market has seen remarkable growth, with increased imports from China enabling suppliers to meet the rising demand for net metering. The high cost of grid electricity has driven thousands of consumers to transition to more affordable and reliable solar energy solutions.
