Under the influence of the global market, the prices of solar panels in Pakistan have decreased by more than 60% on an annual basis so far. Compared to last year, the cost of solar system will be reduced by 60 to 65 percent.
There is good news for the people worried about electricity bills due to rising inflation in Pakistan that installation of solar panel system can now be made possible with savings of 65% compared to last year.
In January, the price per watt of solar panels had come down to Rs 55 from Rs 120 last year, while now the prices have fallen by more than 25 percent to Rs 37 per watt.
According to traders involved in the solar system business, the prices of solar panels have come down by more than 65% compared to last year. 70% of the total cost of a solar panel system depends on the cost of the panels. If the price of panels has come down by more than Rs 80, the cost of installing a complete solar system will be 60 to 65 percent less than last year.
On the other hand, the cost of installing a 10 to 15 KW system in big houses was 22 to 25 lakh rupees last year, which can now be made possible for 11 to 13 lakh rupees. Similarly, compared to last year, solar panel system can be installed at a saving of 6 lakh rupees in small houses and 11 lakh rupees in large houses.