The skyrocketing cost of grid electricity has forced many consumers to switch to more affordable and reliable solar power options.
ISLAMABAD: Pakistan saw a massive shift towards solar energy due to the need to reduce dependence on expensive fossil fuels. Amid the surge in the solar shift, the prices of imported panels have come down sharply to Rs. 30-32 per watt, which is said to be the lowest in recent years.
Experts attributed the drop in prices to oversupply in the domestic market and falling international prices. This decrease is also due to a significant decrease in global prices of lithium batteries.
In recent years, the price of lithium batteries in the international market has also fallen by half, which has had a significant impact on domestic solar panel prices. However, dry battery prices have not seen that much reduction, as importers are reluctant to lower prices for local buyers.
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Last year, Pakistan’s solar energy market grew rapidly, with imports from China enabling importers to meet growing demand for net metering solutions.
The skyrocketing cost of grid electricity has forced many consumers to switch to more affordable and reliable solar power options.
