Solar panel prices fall to lowest level in Pakistan

ISLAMABAD: Solar panel prices in Pakistan have hit an all-time low, dropping to Rs. 30-32 per Watt, according to reports.

Industry insiders disclosed that the primary driver behind this price slash is the significant reduction in lithium battery costs worldwide.

Over the past 12 months, lithium battery prices have plummeted by nearly 50%, sending shockwaves through the solar energy market.

However, dry battery prices remain largely unaffected, as importers refuse to pass on the savings to local consumers.

Pakistan’s solar energy sector has experienced remarkable growth since 2023, driven by the increasing demand for net metering. The country’s reliance on expensive grid electricity has prompted thousands of consumers to switch to more affordable and reliable solar energy solutions.

With the solar kit prices at an historic low, Pakistan is poised to continue its upward trajectory in the adoption of renewable energy sources.

Earlier on April 27, the Power Division on Saturday refuted reports regarding the imposition of a fixed tax on solar power, terming them as baseless and misleading.

The Power Division clarified that no such summary has been sent to the government regarding the imposition of a fixed tax on solar power.

The statement came after sources reported yesterday that the Central Power Purchasing Agency (CPPA) proposed the federal government to impose a tax on individuals using solar panels for residential or commercial purposes.