Solar panel prices in Pakistan have dropped to a historic low, with the per-watt cost now ranging between Rs. 30 and Rs. 32. This significant decrease in prices is largely attributed to the oversupply in the local market and a decline in international rates.
Earlier this year in April, the per-watt price was around Rs. 39 to Rs. 40. By May, prices had slightly decreased, and solar panels that were being sold at Rs. 80 per watt two years ago are now available for just Rs. 37 per watt.
The primary reason for this price reduction is the global decrease in lithium battery costs. Sources familiar with the situation have noted that this drop in prices has directly impacted the cost of solar panels worldwide. For instance, a 180-watt panel that was previously priced at Rs. 15,000 is now available for only Rs. 5,500.
Over the past 12 months, the price of lithium batteries in the international market has fallen by nearly 50%. While this has significantly affected the cost of household solar panels, the prices of dry batteries have not seen a substantial decrease, as importers have been reluctant to reduce prices for local buyers.
Since 2023, Pakistan’s solar energy market has seen a surge in imports from China, enabling importers to meet the growing demand for net metering solutions in the country. The rising cost of grid electricity has pushed thousands of consumers to switch to more affordable and reliable solar energy solutions.
