Solar panel prices decreasing in Pakistan

Solar energy is helping people to generate their own electricity and become independent from the power grid. As it is an astonishing technology, you might think that only a few can afford it.

But NO

The solar panel prices in Pakistan are decreasing drastically. Over the last six months, the prices dropped to 53%. Longi solar panel prices in Pakistan have reached record lows. The average price for mono perc or p-type panels is now 0.151 per watt, around 45 rupees per watt.

Why Solar panel prices are decreasing?

The sudden pricing shift is due to the simple “supply and demand” rule. China’s production capacity for solar panels has increased in the past year. Last year, oil and gas prices spiked due to the Russi@-Ukr@ine w@r. To overcome the dependence on oil and gas, countries started to import more and more solar panels. This increase in demand and production on the other hand caused the prices to go down.

Due to labor shortages and regulations, solar panel installation was limited. Now, indiscriminate imports have filled European and Chinese warehouses with excess panels. New production is also increasing. As a result, panel prices have dropped to record lows.

Many importers are deliberately delaying purchases, anticipating further price declines.