Solar panel prices in Pakistan have notably decreased due to significant developments in renewable energy adoption, with average rates now at 37 rupees per watt.
This represents a sharp decline from 2022 prices, where solar panels were priced at 80 rupees per watt. The cost reductions extend to larger installations as well, with the price of a 5 kW solar system now at 215,000 rupees, down from last year’s rates, and a 10 kW system currently costing 430,000 rupees.
While solar panel prices have become more affordable, the prices for associated hardware, such as inverters and batteries, remain unchanged.
Solar panel dealers have reported that the price per watt has reached as low as 40 rupees, and the trend towards lower prices is likely to continue. This price drop is attributed primarily to an oversupply in the market, with dealers noting a 30% decrease in solar panel prices over the last six months.
