Solar Panel Prices in Pakistan Crash to Lowest Level in History
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
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.
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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.
Reference Link:- https://propakistani.pk/2024/08/11/solar-panel-prices-in-pakistan-crash-to-lowest-level-in-history/
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
