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Solar panel prices in the domestic market of Pakistan have once again shown a downward trend, even amidst a surge in demand driven by the scorching summer season.
Dealers in the solar panel market report that prices have reached as low as Rs40 per watt, with the average price dropping to Rs37 per watt. This decline, attributed to an abundant supply in the market, marks a substantial 30 percent reduction over the past six months.
The increased adoption of solar panel systems, fueled by rising power tariffs, has led to a significant number of residential and commercial consumers switching to solar power. Harnessing sunlight as a renewable energy source, these systems offer an attractive alternative to traditional electricity sources.
However, the surge in solar panel usage has not been without its challenges. The government is currently grappling with issues concerning Independent Power Plants (IPPs) as the demand for solar power continues to rise.
Addressing recent speculations, the Power Division clarified its stance on imposing fixed taxes on solar power. In a statement released in late April 2024, the division refuted claims of any such intention, emphasizing that neither the Central Power Purchasing Agency (CPPA) nor the Power Division had submitted any proposal regarding fixed taxes on solar energy to the government.
As Pakistan navigates its energy landscape amidst shifting market dynamics and increasing environmental consciousness, the declining prices of solar panels offer a promising avenue for sustainable energy solutions, albeit with regulatory and infrastructural challenges to overcome.