Solar Panel Prices in Pakistan Suddenly Drop by Half

Solar panel prices in Pakistan have suddenly dropped to Rs. 37 per Watt, more than half compared to Rs. 80 per Watt in 2022.

The prices of solar panels have fallen due to excess supply in the local market and a downward trend in international rates. The past 6 months saw rates drop nearly 30 percent, with panels from various brands now available at around Rs. 37 per Watt.

A 5kW solar power system is now Rs. 215,000 cheaper, while the overall price of a 5kW system has fallen by Rs. 430,000.

Rates for inverters and batteries remain unchanged.

This comes just two weeks after the Central Power Purchasing Agency (CPPA-G) asked the government to impose a tax on both residential and commercial solar power consumers. CPPA-G proposed a fixed tax of Rs. 2,000 per kilowatt on both residential and commercial solar panel users.

Later, the Power Division denied reports of imposing a fixed tax on solar power. But it didn’t refute reports of reducing buyback rates for net metering electricity from the current Rs. 21 to Rs. 11 per unit.