Solar panel prices drop in Pakistan following net metering policy amendments

KARACHI: The recent amendments to the federal government’s net metering policy have seen significant changes in the prices of solar panels in local markets, making solar energy systems more affordable and accessible to electricity consumers.

The price of solar panels has come down by Rs 2 per watt after the revised policy. While the overall cost of installing a solar system has also come down, prices have come down from Rs 35,000 to Rs 200,000 depending on the capacity of the system.

The new market price of a 5 kW solar system has been set at around half a million, while a 7 kW system is now available for Rs 6.5 lakh.

A 10 kW solar setup costs over Rs 8 lakh, while if you go for 15 kW, it will cost you around Rs 1.2 million. These prices are applicable to on-grid systems. However, for hybrid systems, consumers will need to pay extra for the batteries required to store energy.

The federal government’s adjustment to the net metering policy is expected to encourage the use of solar power, making it a more attractive and economical option for households and businesses. The move is in line with the government’s push to promote renewable energy and reduce dependence on conventional sources of electricity.