Solar panels price in Pakistan suddenly drops by half

The price of solar panels has suddenly dropped in Pakistan in response to rising demand due to expensive electricity bills. It has made it easier for customers to divert towards solar systems as the least cost option.

Sellers claim that the oversupply of solar equipment on the local market and a global trend of declining prices are reasons for the low prices of solar panels. They revealed that prices of solar panels have dropped by 30% in the last six months.

According to sellers, they expect the downward price trend of solar panels to continue in the local Pakistani market. They claim the solar panel’s market price per watt has dropped to PKR 40 or more. Following are the updated solar panels price in Pakistan:

Solar Panel Watt	Price
Per Watt	PKR 37
5 Kilowatt	PKR 215,00
7 Kilowatt	PKR 259,000
12 Kilowatt	PKR 444,000

The above prices show a significant decrease in prices of solar panels compared to past years. The price per watt of solar panels has decreased to PKR 37 from PKR 80 in 2022.

However, a 5kW system price has fallen by PKR 215,000 from PKR 430,000. On the other hand, the rates of transformers and batteries have not changed.

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The decreasing price of solar panels will also save money for consumers on electricity costs associated with using conventional power sources.

The Power Division also ended rumors that the Pakistani government was about to impose a fixed tax on solar panels last month. The clarification from the power ministry came after speculations were going on social media. A fake summary went viral online which approved the imposition of a fixed tax value on solar panels.

According to the fake summary, the government had approved a proposal for taxing people who use solar panels for homes or businesses of PKR 2,000 per kilowatt.