ISLAMABAD: Solar panel prices in Pakistan have reached a record low, now ranging between Rs. 30-32 per Watt, according to recent reports.
Industry experts attribute this significant price drop mainly to the sharp decline in lithium battery costs worldwide. Over the past year, lithium battery prices have decreased by nearly 50%, leading to lower costs in the solar energy market.
Despite this, the prices of dry batteries have remained mostly unchanged as importers are not passing on the savings to consumers.
Since 2023, Pakistan’s solar energy sector has seen impressive growth, driven by the rising demand for net metering. Many consumers, seeking an alternative to costly grid electricity, have switched to solar energy for its affordability and reliability.
With solar kit prices at an all-time low, Pakistan is on track to further increase its adoption of renewable energy.