Sharp drop in solar system prices seen across Pakistan

KARACHI: After the prices of solar panels in the global market reached an all-time low, a significant decrease in the prices of solar systems has been seen in Pakistan as well.

The price of global solar cells in Pakistani currency has reached about Rs. 13.50 per watt, which energy experts are calling a significant development.

Experts associated with the solar industry say that the demand for solar technology has increased over the past few years; however, due to increasing global production, a significant decrease in prices has been recorded.

They say that not only domestic consumers but also the business community will benefit from the price reduction.

According to experts, installing a solar system in the current situation can prove to be a wise decision, because due to rising electricity rates and load shedding problems, solar energy is becoming an effective source of long-term savings.

A clear reduction is also being seen in the prices of 5 kW and 10 kW domestic solar systems in the market, while easy installments and special packages are also being introduced by various companies.

Energy experts have expressed the expectation that if the same trend continues in the global market, solar systems in Pakistan may become cheaper in the next few months, which will also help in the promotion of renewable energy.