Solar panel prices have moved sharply higher across Pakistan since the start of the year, with buyers in local markets paying noticeably more for popular imported Chinese models.
Retailers reported an average increase of about Rs. 5,000 on Chinese solar panels in the 585-watt, 645-watt, and 720-watt categories.
As a result, a 585-watt solar panel now sells for around Rs. 20,000 to Rs. 21,000, up from Rs. 16,000 to Rs. 17,000.
Meanwhile, the 645-watt panel has climbed to roughly Rs. 24,000 to Rs. 25,000, compared with about Rs. 20,000 earlier.
In addition, the 720-watt segment has seen the steepest jump, rising to nearly Rs. 30,000 to Rs. 35,000 from Rs. 22,000 to Rs. 25,000.
Saleem Memon, a solar panel importer and vice president of the Karachi Electronics Dealers Association, told The Express Tribune that higher global silver and copper prices have raised manufacturing costs for Chinese solar companies. Because of that pressure, he said the per-watt price of solar panels has increased from Rs. 22 to Rs. 33 over the past five months.
He added that strong public demand, along with further price hikes in China, could push the per-watt rate to Rs. 40 in the coming months. At the same time, he pointed to taxes imposed on imports of Chinese solar panels as another key driver behind the rising prices.
Memon also said competition in solar panel technology at the local level continues to influence pricing trends. However, he noted that Pakistan still holds sizeable inventories because imports have remained high over the last two years.
He further reported that the cost increase is not limited to solar panels. Prices of batteries used with solar systems have also risen, with solar battery rates increasing by about 10% over the past month.
Via: Tribune