In Pakistan, solar panel prices have recently declined to 28 Rs per watt, marking a notable decrease from the previous range of 30 to 32 Rs last month. This drop is attributed to an increase in local supply and a reduction in international prices.
Earlier this year, prices reached 39 to 40 Rs per watt in April, significantly down from 80 Rs per watt just two years ago. A key factor contributing to this trend has been the nearly 50% drop in international lithium battery prices over the past year, which has directly impacted solar panel costs.
In contrast, prices for dry batteries have remained relatively stable, as importers have hesitated to pass on the savings from international markets to local consumers.
Federal Minister for Energy Owais Laghari indicated that Pakistan imported a substantial 8,000 MW of solar panels within a single year. To further bolster the growth of solar energy, he announced plans to establish local solar inverter manufacturing plants. This initiative aims to reduce foreign exchange costs and enhance the accessibility of solar technology for consumers.
These developments highlight Pakistan's ongoing efforts to expand its renewable energy capacity and move towards a more sustainable energy future.
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