Solar Panel Prices in Pakistan Crash to Lowest Level in History

Solar panel prices have suddenly dropped to Rs. 30-32 per Watt, the lowest level in the history of this business in Pakistan. The prices of solar panels have fallen due to excess supply in the local market and a downward trend in international rates. Sources well informed on the matter said the rate cut comes due to a big decline in rates of lithium batteries worldwide. The price of lithium batteries has fallen by almost 50 percent in the past 12 months in the international market. While this has significantly impacted domestic solar panel rates, dry batteries haven’t seen much of a rate cut as importers have refused to lower prices for local buyers. Since 2023, Pakistan’s solar energy market has grown massively with imports from China helping importers meet the rising net metering demand in the country. Expensive grid electricity has forced thousands of consumers to switch to cheaper and more reliable solar energy solutions.