Solar Prices Drop Sharply in Pakistan . Here’s Why Buyers Are Smiling

Solar energy products have become significantly cheaper in Karachi, bringing welcome relief for consumers planning to install solar systems.

According to market sources, prices of solar panels, lithium batteries, and inverters have dropped noticeably over the past few weeks. Lithium battery prices have fallen by around Rs20,000, while inverter prices have decreased by as much as Rs10,000. Solar panels are also selling for approximately Rs3,000 less per panel.

Traders said that before the federal budget, some dealers had increased prices due to speculation that new taxes would be imposed on solar equipment. Others reportedly stockpiled products in anticipation of selling them at higher prices after the budget.

However, no additional taxes were introduced on solar systems in the federal budget, leading to a correction in market prices. Increased imports, ample stock availability, and slower consumer demand have further contributed to the decline.

Currently, 585W, 645W, and 720W solar panels are selling at around Rs45 per watt, compared to Rs50 per watt just a few days earlier. A 5kW lithium battery is now available for around Rs230,000, while 3kW to 5kW inverters are priced between Rs120,000 and Rs300,000, depending on the brand and specifications.

Market experts believe that if supply remains stable and demand does not surge unexpectedly, solar product prices are likely to remain steady or decline slightly in the coming weeks.