LAHORE: The prices of solar panels and batteries have seen a significant reduction in Pakistan due to a notable decline in demand. Market sources report that the cost of lithium solar batteries has dropped by up to 20%, with a battery previously priced at PKR 450,000 now available for PKR 380,000. Similarly, batteries that were sold for PKR 300,000 to PKR 400,000 are now being offered at a reduced price of PKR 200,000 to PKR 250,000.
This price reduction is attributed to the entry of new companies into the lithium battery industry, offering competitive rates and innovative solutions. Traders indicate that the purchase and sale of solar products, including panels and batteries, have been significantly impacted, leading to a historic drop in prices.
The market shift is being closely watched as it creates opportunities for consumers but also poses challenges for existing players in the solar industry.
