Solar panel prices significantly drop after PKR strengths against USD

As the US dollar depreciated against Pakistani Rupee, the prices of solar plates have also decreased significantly

The price of solar penal also decreased from 15, 000 to Rs5,000. SAMAA TV talked to some solar penal traders in the regal market of Karachi who cited the falling value of the dollar, solar panels, and batteries have become cheaper.

Watt	Previous Rate (Rs) Karachi	Current Rate (Rs) Karachi
165 WAtt Solar Panel	16200	10800
260 Watt Solar Panel	30000	26000
550 Watt Solar Panel	48400	33000

 

Solar panel prices in Islamabad 

Over the past two years, the country imported solar panels worth a staggering $3.6 billion, according to the Pakistan Solar Association.

The reduction in solar panel prices mainly due to the government's decision to abolish all taxes on solar imports in February of this year.

The policy shift led to a significant drop in solar panel prices, from Rs135 rupees per watt to an Rs70 rupees per watt.

In Islamabad, the 550-watt solar panel, previously priced at 75,000 rupees, now costs only 34,000 rupees.

Despite the clear decrease in the value of the dollar, many markets are still offering solar panels at reduced prices.

The solar panel industry remains in a state of flux, with conflicting statements from traders.

Malik Asif, Solar Panels Association, said: "Due to the decrease in the value of the dollar in the global market, the prices of solar panels have decreased significantly. Solar panel prices are continually decreasing, creating new opportunities for affordable, sustainable energy solutions."

On the other hand, Yahya Khan, a Solar Panel Dealer, revealed, "We have an inventory of 150 panels, equivalent to two to three months of stock for installation. If I've charged a higher price previously, I will now align it with the market rate to ensure that customers benefit from the lowered costs."

Pakistan aimed to adopt renewable energy sources more accessible to a wider range of consumers and contributing to the nation's green energy goals.

 Solar panel prices in Multan

In Multan, the price of a 555 watt solar plate decreased from Rs70,000 to Rs35,000.

Solar panel prices in Faisalabad

As the value of the dollar declined, solar panel prices decreased by an impressive 20%.

The 550-watt solar panel, which originally cost 40,000 rupees, is now available for 32,000 rupees following an 8,000 rupees reduction.

Similarly, the 150-watt solar panel saw a 2,000 rupees reduction, bringing its price down to 12,000 rupees.

Rida Sindhu from Faisalabad said, "The drop in solar panel prices has made sustainable energy more accessible to the public. This reduction is expected to boost the adoption of solar power systems in our region."

Solar panel prices in Quetta

The reduction in the dollar's value has had a tangible impact in Quetta, with the prices of solar panels experiencing a noteworthy decline. Dealers in the area have reported the following reductions:

The 150-watt solar panel has seen a substantial reduction from 14,000 to 10,000 rupees.

The 300-watt solar panel has reduced from 23,000 to 17,000 rupees.

The 560-watt solar panel's price dropped from 35,000 rupees to 29,000 rupees.

Muhammad Atif from Quetta commented: "This reduction is a game-changer for Quetta's renewable energy sector. The cost-effective pricing of solar panels will undoubtedly encourage more individuals and businesses to adopt clean and sustainable energy solutions."