Solar Panel prices see big drop in Pakistan, Check latest rates [April 2024]

LAHORE: The prices of solar panels saw a major drop ahead of the summer season in Pakistan. Solar panels have become affordable due to the production increased by Chinese companies, leading to a surplus of panels in local and global markets.

Solar panels, which are being promoted by the government for energy production at the household level, are a source of renewable energy that cuts dependency on the national grid as a household can produce electricity on its own for its routine use.

Additional electricity can also be sold to the government through a net-metering system.

Production of low-cost Chinese solar panels has caused big competition for the US and European manufacturers. International Energy Agency predicts global solar panel supply to reach 1,100 gigawatts by the end of the year, tripling ongoing demand.

Solar Panel Prices in Pakistan 2024

Earlier, Solar panel prices dropped in 2023 and are expected to further down by 40 percent in the coming days.

According to the details, the cost of solar systems with capacities between 7 and 15 kilowatts decreased by Rs. 200,000. Surprisingly, the price has dropped recently, especially because summer is quickly approaching and prices usually climb around this period.

Meezan Bank Solar Panel Financing 2024

Meezan Bank solar panel financing plan for up to 10 kilowatt setups for the period of two years.

Tentative Payment Schedule