The solar energy market in Pakistan is undergoing a significant transformation, characterized by a substantial decrease in prices.
Currently, the cost per watt has dropped to between 30 and 32 rupees, a notable decline from earlier this year when prices ranged from 39 to 40 rupees per watt in April.
Just a year ago, the price of solar panels was as high as 80 rupees per watt, but it has now fallen to 37 rupees. This dramatic reduction can be attributed to two main factors: an increase in local supply and a decrease in international prices.
In fact, some prices for solar panels have reached as low as 28 rupees per watt, making solar energy more accessible than ever.
Federal Minister Owais Leghari recently disclosed that Pakistan imported 8,000 megawatts of solar panels over the past year. This influx has not only met growing demand but has also encouraged several companies to consider establishing solar inverter manufacturing plants within the country.
The goal is to reduce reliance on imports and save foreign exchange through local production.
Furthermore, the potential of solar energy in Pakistan is enormous, especially if solar systems are installed with QR code verification and maintained effectively.
With proper upkeep, these systems can deliver reliable energy for many years, enhancing the overall sustainability of energy production in the country.
As solar energy becomes increasingly affordable, it presents a promising opportunity for both consumers and the economy, paving the way for a greener, more sustainable future in Pakistan.
The shift in pricing, coupled with increased local manufacturing, positions the nation to harness the full benefits of solar energy as it strives for energy independence and environmental sustainability.
