Solar Panel Prices in Pakistan Experience Significant Decline

May 16, 2024Zayn0

Due to an abundance of equipment on the market and an overall decline in costs, the cost of solar panels has dropped by thirty percent in Pakistan. This price down gives consumers relief and encourages cost reductions by creating opportunities for the nation’s renewable energy sector to grow. For detailed information, continue reading.

Reason behind the price fall of solar panels in Pakistan

Due to an “ample” supply and stock of the equipment in the marketplaces, solar panel prices in Pakistan have decreased by 30%, according to dealers. According to market sources, “solar panel prices in Pakistan have decreased by 30 percent in the last six months due to an abundance of equipment on the market.”

Huge Relief for Pakistan Public and Cost Savings

The dealers claimed that the primary causes of the lowering prices are an excess of equipment on the local market and a general downward trend in prices. People should be able to save money on electricity bills connected with using traditional power sources because of the predicted fall in solar panel prices.

Cost Reduction in Solar Power Systems

They disclosed that the price per watt in the market has decreased significantly from Rs 80 in 2022 to at least Rs 40, with panels from several vendors currently retailing for Rs 37. The dealers claim that although the system’s cost has decreased by less than Rs 430,000, the cost of installing a 5 kilowatt solar power system has decreased by Rs 215,000. Earlier on April 27, The Power Division denied claims that a set tax on solar energy will be implemented on Saturday, calling them false and deceptive.

Power Division Clarifies Misleading Reports on Solar Power Tax

The Power Division made it clear that no such report about the application of a fixed tax on solar energy had been submitted to the government.   According to people with knowledge of the situation, the CPPA suggested taxing residential and business customers who installed 12 kW or more at a rate of Rs 2,000 per kilowatt.

In Summary

The announcement was made in response to reports from sources that the Central Power Purchasing Agency (CPPA) had suggested that the federal government pay a fee on anyone who uses solar panels for either home or commercial use.

Zayn

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