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Solar panel latest price in Pakistan – Feb 2024 update

Solar panel latest price in Pakistan – Feb 2024 update

Solar panel latest price in Pakistan – Feb 2024 update

What tax rate applies to 12-kilowatt solar panels in Pakistan?

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As the summer season approaches, Karachi witnesses a significant hike in the prices of solar panels, a renewable energy source actively promoted by the government for household energy production.

Solar panels offer households an opportunity to reduce dependency on the national grid by generating their electricity. Through mechanisms like net metering, surplus electricity can even be sold back to the government, aiding in energy conservation efforts.

One of the primary advantages of solar panels is their ability to provide an uninterrupted power supply, particularly during the scorching summer months when load shedding becomes prevalent.

Solar Panel Price Trends in Pakistan, 2024

Reports indicate a staggering increase in solar panel prices across Pakistan, with hikes of up to Rs. 300,000 depending on capacity. Below are the updated prices:

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  • 7-kilowatt: old price Rs. 850,000, new price Rs. 920,000
  • 10-kilowatt: old price Rs. 1,100,000, new price Rs. 1,250,000
  • 12-kilowatt: old price Rs. 1,400,000, new price Rs. 1,600,000
  • 15-kilowatt: old price Rs. 1,500,000, new price Rs. 1,800,000
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Solar Panel Prices in Gujranwala, 2024

In Gujranwala, prices for solar panels of varying capacities remain consistent with those in other cities, albeit with slight variations.

Meezan Bank’s Solar Panel Financing Plan

For individuals interested in a 10-kilowatt setup, Meezan Bank offers a financing plan spanning two years. The payment plan involves a down payment of Rs. 230,000, with monthly installments over the tenure.

Tentative Payment Schedule

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Installment #Installment MonthMonthly Payment
1March 202441,729
2April 202442,046
3May 202441,058
4June 202440,890
5July 202439,939
6August 202439,734
7September 202439,156
8October 202438,261
9November 202438,000
10December 202437,142
11January 202536,843
12February 202536,265
13March 202535,016
14April 202535,109
15May 202534,344
16June 202533,953
17July 202533,226
18August 202532,797
19September 202532,219
20October 202531,547
21November 202531,062
22December 202530,428
23January 202629,906
24February 202629,328

With the rising demand for sustainable energy solutions, exploring financing options like Meezan Bank’s plan can facilitate the transition to solar power for households in Karachi and beyond.

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Solar panel prices increase in Pakistan
Solar panel prices increase in Pakistan

As summer approaches, there's a surge in demand for solar panels in...

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