Karachi: Solar Energy Prices in Pakistan Continue to Decline
Solar energy prices in Pakistan are witnessing a significant decline, reflecting a transformative shift in the market and an increase in supply.
As of late September, the cost per watt for solar panels has decreased to Rs30-32, down from Rs39-40 just a few months ago. This marks a considerable drop from last year’s prices, which peaked at Rs70-80 per watt. Recent trends indicate that some solar panel prices have fallen even lower, reaching as low as Rs28 per watt.
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The decrease in prices can be attributed to a surge in local supply and a decline in international rates. Over the past year, Pakistan has imported 8,000 megawatts of solar panels to meet the increasing demand in the green energy market.
In response to the rising demand, several companies are planning to establish solar inverter manufacturing plants in Pakistan. This move aims to reduce the country’s reliance on imports and help conserve foreign exchange.
With the implementation of QR code verification for installations and proper maintenance protocols, solar systems in Pakistan are expected to provide reliable service for many years.
This evolving landscape in the solar market signifies a promising future for renewable energy in Pakistan, enhancing both accessibility and affordability for consumers. As the nation continues to embrace green energy, these developments could pave the way for a more sustainable energy future.
