KARACHI – Pakistan witnessed a sudden and sharp rise in solar panel prices, creating major challenge for consumers and solar system installers.
Local markets recorded average increase of Rs5,000 in prices of imported Chinese solar panels of 585W, 645W, and 720W capacities. As a result, the price of 585W solar panel has risen from Rs16,000–17,000 to 20,000–21,000.
Similarly, the price of a 645W solar panel has increased from Rs20,000 to Rs24,000–25,000, while 720W solar panel has jumped from Rs22,000–25,000 to Rs30,000–35,000.
Solar Panel Rates in Pakistan
| Solar Panel (Wattage) | Old Price | New Price |
|---|---|---|
| 585W | 16,000–17,000 | 20,000–21,000 |
| 645W | 20,000 | 24,000–25,000 |
| 720W | 22,000–25,000 | 30,000–35,000 |
Traders said that rising global prices of silver and copper have increased production costs for Chinese solar companies. This has caused the per-watt price of solar panels to rise from Rs22-33 in the last five months.
He added that due to increasing consumer demand and rising prices in China, the per-watt price of solar panels is expected to rise to Rs40 in the coming months.
Memon further stated that import taxes imposed on Chinese solar panels are another reason for the price surge. Moreover, technological competition at the local level is also contributing to the rise in prices.
He mentioned that due to large imports over the last two years, there are extensive stocks of solar panels in the country. However, despite the high stock, solar panels have become more expensive across the country. The price of batteries used in solar systems has also increased, with a 10% rise recorded in the last month alone.
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