Solar Panel Prices in Pakistan
Influenced by global market trends, solar panel prices in Pakistan have decreased by more than 60% annually. Amid rising inflation and high electricity bills, this is welcome news for Pakistani consumers. The cost of installing solar panel systems is now 65% lower than last year.
In January, the price per watt for solar panels dropped from last year’s 120 PKR to 55 PKR. Recently, prices have fallen further by over 25%, bringing the current price per watt to 37 PKR.
How Much Cheaper Is Solar System Installation Now?
According to solar system business traders, solar panel prices have dropped by more than 65% compared to last year. Solar panels account for 70% of the total cost of a solar system. If panel prices decrease by over 80 PKR, the total cost of installing a solar system will be 60-65% less than last year.
Reports indicate that installing a 5 to 7 kW solar system in a 5-marla house now costs between 700,000 and 800,000 PKR, down from 1.2 to 1.5 million PKR last year. For larger homes requiring 10 to 15 kW systems, the cost has decreased from 2.2 to 2.5 million PKR to 1.1 to 1.3 million PKR. Thus, savings of 600,000 PKR for smaller homes and 1.1 million PKR for larger homes can be achieved compared to last year.
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