Solar Panel
In a significant development, the local market for solar panels in Pakistan has witnessed a notable decrease in prices, prompting a surge in installations as individuals seek alternatives to traditional electricity sources and piped gas.
The drop in solar panel prices, attributed to the depreciation of the dollar and changes in raw material import dynamics, has spurred increased adoption of solar systems across the country. With extended hours of electricity and gas load-shedding, citizens are turning to solar panels for their daily energy needs.
The recent price reduction has further accelerated the adoption of solar technology. The 160W solar panel, for instance, experienced a substantial price decrease of Rs4,000, now priced at Rs11,000 compared to its previous cost of Rs15,000. Similarly, larger solar panels have seen a noteworthy reduction of Rs30,000, now available at Rs40,000 instead of the earlier Rs70,000.
Consumers are drawn to the idea of a one-time expense for solar installations, freeing them from the inconvenience of prolonged load-shedding. Business owners are also witnessing a surge in customer interest, attributing it to the decline in solar panel prices, bolstered by the appreciation of the rupee.
Earlier concerns were raised by the Pakistan Solar Association regarding potential revisions to net metering by the government. Net metering allows consumers to contribute excess electricity generated from rooftop solar installations to the national grid. The government, however, clarified its stance, with the caretaker Minister for Energy and Petroleum, Muhammad Ali, affirming that there were no plans to reduce incentives for solar net metering.
In a broader push for solar energy, the Executive Committee of the National Economic Council approved a Rs337 billion project to solarize agriculture tube wells. This initiative aims to convert existing 100,000 tube wells into solar PV systems, enhancing agricultural productivity through clean and sustainable energy.
The evolving landscape in Pakistan’s solar industry reflects both consumer and government enthusiasm for renewable energy solutions, offering a glimpse into the country’s commitment to sustainable and cost-effective power sources.
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