Solar Panel Prices in Pakistan See Significant Surge

Solar panel prices Pakistan have experienced a substantial increase since the start of the year. Buyers in local markets are now facing noticeably higher costs for popular imported Chinese models. This trend impacts households and businesses alike, influencing decisions regarding renewable energy adoption.

Understanding the Recent Solar Panel Price Hikes

Retailers have confirmed an average increase of approximately Rs. 5,000 across various Chinese solar panels. This surge specifically impacts the 585-watt, 645-watt, and 720-watt categories, reflecting a broader shift in the market.

Key Price Adjustments by Wattage:

• A 585-watt solar panel now costs around Rs. 20,000-21,000, significantly up from its previous range of Rs. 16,000-17,000.
• The 645-watt panel has climbed to roughly Rs. 24,000-25,000, compared with its earlier price of about Rs. 20,000.
• The 720-watt segment experienced the steepest jump, rising to nearly Rs. 30,000-35,000 from Rs. 22,000-25,000.

Factors Driving the Increase in Solar Panel Prices Pakistan

Saleem Memon, a prominent solar panel importer and Vice President of the Karachi Electronics Dealers Association, shed light on the situation. He informed The Express Tribune that elevated global silver and copper prices have directly increased manufacturing costs for Chinese solar companies. Consequently, the per-watt price of solar panels has surged from Rs. 22 to Rs. 33 over the past five months.

Furthermore, Memon noted that robust public demand, coupled with anticipated price increases from China, might push the per-watt rate to Rs. 40 in the coming months. He also emphasized that new taxes imposed on imports of Chinese solar panels significantly contribute to these rising costs, impacting overall market dynamics.

Local competition in solar panel technology also continues to influence pricing trends, Memon explained. Despite these challenges, Pakistan maintains substantial inventories. This is primarily a result of consistently high imports over the last two years, ensuring supply despite rising costs.

Broader Impact: Beyond Solar Energy Systems

The rising cost trend extends beyond just solar panels. Memon reported that prices for batteries, essential components of solar systems, have also climbed. In fact, solar battery rates have seen an approximate 10% increase over the past month alone, adding to the total cost of installing solar solutions.

Source: The Express Tribune