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The solar panel market in Pakistan witnesses a significant price drop, accelerating the uptake of solar energy systems nationwide. This price adjustment follows a recent market surge, suggesting a dynamic response to various factors. Experts anticipate further decreases in prices, making solar energy solutions more accessible.
Traders and solar panel businesses attribute this shift to increased imports, resulting in market oversupply. Enhanced imports from China and changes in trade dynamics with European markets have contributed to this oversupply, causing a market downturn.
Reports highlight substantial price reductions, notably in Lahore, with prices decreasing by up to two hundred thousand rupees. This decline is particularly notable for systems ranging from 7 to 15 kilowatts, experiencing significant cost reductions.
For example, a 7-kilowatt system now costs 825,000 rupees after a price cut of up to one hundred thousand rupees. Similarly, a 10-kilowatt system is now priced at 1.125 million rupees following a two hundred thousand rupee reduction.
This trend extends to larger systems, with a 12-kilowatt variant now available at 1.4 million rupees, down by two hundred thousand rupees. Even larger systems, such as the 15-kilowatt option, have seen a price drop of two hundred thousand rupees, reaching 1.60 million rupees.