KARACHI – The decline in solar panel prices continues, with the cost per watt dropping further to a new low of Rs28.
At a solar panel exhibition in Karachi, there are numerous stalls, and buyers are also crowding in because the price of solar panels has dropped to Rs28 per watt in just one year due to various reasons.
Local suppliers are waiting for prices to drop even further.
Federal Minister Awais Leghari recently revealed that 8,000 megawatts of solar panels were imported into Pakistan in just one year — equivalent to 30-35% of the 22,000 megawatt electricity generated by the world’s largest Three Gorges Dam.
Due to such a large market, some companies are planning to set up a solar inverter manufacturing plant in Pakistan, as local production of solar systems will save some foreign exchange.
