LAHORE: There has been a substantial drop in the prices of solar panels in the local market, with a decrease in the prices of Rs4,000 to Rs9,000, revealed sources from the market.
Sources from Lahore said the drop in solar panel prices came at a time when there was a reduction in the price of petroleum products, and there was an expectation for more reductions in the coming days if the current downward trend continued.
Experts from the market attributed this development to a drop in fuel prices, which has helped bring down transportation and logistics costs for solar panels.
Moreover, sources said that the prices of batteries, which were highly inflated due to high petroleum prices, would also be dropping. Sources estimated that a single battery had been selling at a markup of Rs27,000 to Rs38,000 due to inflated fuel prices.
It was expected that the sustained stable prices of fuel could help consumers who wish to opt for solar energy systems.
The reduction in solar system prices is expected to help more people install alternative energy systems despite electricity prices concerns.
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