The appreciation of the Pakistani rupee against the US dollar has significantly reduced the prices of different items, including solar panels.
According to a media report, the prices of solar panels have decreased by up to Rs. 35,000 in some parts of the country.
Talking to a local media outlet, solar panel traders credited the falling value of the dollar for the decrease in solar panels and batteries’ value.
It is also worth mentioning that earlier this year, the government announced the abolition of all taxes on solar imports. Following this decision, the per-watt price decreased from Rs. 135 to Rs. 75.
According to a private news channel, 550-watt solar now costs only Rs. 34,000 compared to its previous price of Rs.75,000 in the federal capital.
In other major cities of the country, including Faisalabad, Multan, and Quetta, prices have seen a reduction of up to 50%. In Multan, the price of a 555-watt solar plate has decreased by Rs. 35,000.
Furthermore, the 150-watt solar now costs Rs. 12,000 following a reduction of Rs. 2,000 in Faisalabad. Meanwhile, in Quetta, the price has decreased by Rs. 4,000.
Following the massive increase in electricity prices, people have gradually started shifting towards solar energy. According to the Pakistan Solar Association, the country imported solar panels worth $3.6 billion in the last two years.
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