Solar panel prices drop in Pakistan

Solar panel prices have undergone a significant decrease in Lahore’s markets.

As per reports, systems ranging from 7 to 15 kilowatts are now Rs. 200,000 cheaper.

The cost of a 7-kilowatt system has been reduced by Rs. 100,000 to Rs. 825,000, and a 10-kilowatt system now stands at Rs. 1.125 million.

Following a drop of Rs. 200,000, a 12-kilowatt system now costs Rs. 1.4 million. Meanwhile, the price for a 15-kilowatt system is now Rs. 1.6 million after a similar Rs. 200,000 cut.

This sudden price drop comes as a surprise, especially with the impending summer season, typically associated with price hikes.

Just last month, solar panels experienced a significant price surge due to rising demand ahead of the summer. Costs had risen between Rs. 75,000 to Rs. 300,000.

For example, the cost of a 7-kilowatt system had soared to over Rs. 920,000. Similarly, a 10-kilowatt solar panel system’s price had increased from Rs. 1.1 million to Rs. 1.25 million.

Moreover, a 12-kilowatt system had reached Rs. 1.6 million, while a 15-kilowatt system had risen to Rs. 1.8 million.