Another massive drop in solar panel prices in Pakistan

KARACHI: Solar panel prices in Pakistan have dropped to Rs28 per watt following the steady decrease from Rs 30 to Rs 32 last month.

The reduction in prices is attributed to an increase in local supply and a decrease in international rates.

Earlier this year, prices saw a significant drop reaching Rs 39 to Rs 40 per watt in April, compared to Rs 80 per watt two years ago.

In the past year, international lithium battery prices have dropped by nearly 50%, significantly impacting solar panel prices in Pakistan and causing them to fall sharply.

In contrast, dry battery prices have stayed largely the same, as importers have been reluctant to pass on the cost savings to local consumers.

Federal Minister for Energy Owais Laghari earlier said that 8,000 MW of solar panels were imported into Pakistan in just one year. Additionally, the minister announced a plan to establish solar inverter plants aiming to reduce foreign exchange costs and further promote solar energy in the country.