Solar panel prices in Pakistan have dropped to record lows, now sitting at just Rs.28 per watt in Karachi. This is a big fall from last month, when prices were around Rs. 30 to Rs. 32 per watt.
Earlier this year, in April, we saw prices between Rs. 39 and Rs. 40 per watt. Just two years ago, they were as high as Rs. 80 per watt, so this drop is significant.
The reason for this decline? Well, it’s mostly due to an increase in supply and more people showing interest in solar energy. Federal Minister for Energy Owais Laghari mentioned that Pakistan imported a whopping 8,000 MW of solar panels in just one year.
On top of that, there are plans to set up local solar inverter plants. This will help cut down on foreign exchange costs and boost the growth of solar energy in the country. So, it looks like solar power is becoming more accessible for everyone in Pakistan.
