As summer approaches, solar panel prices experience a significant drop, providing relief from soaring electricity bills.
Reports indicate notable reductions in the cost of solar systems ranging from 7 to 15 kilowatts, offering a much-needed opportunity for residents to harness solar energy.
Recent media sources reveal a decrease in prices ranging from Rs100,000 to a substantial Rs200,000, marking a significant shift in market dynamics. Specifically, prices for a 7-kilowatt system have been slashed by Rs100,000, now priced at Rs825,000, while a 10-kilowatt system is available at Rs1.125 million after a significant decrease.
Moreover, the cost of a 12-kilowatt system has been marked down to Rs1.4 million, and a 15-kilowatt system now comes at a reduced price of Rs1.6 million, both experiencing a noteworthy Rs200,000 reduction in their price tags.
This decline in solar panel prices contrasts with the previous month’s scenario when prices surged due to escalating demand. Last month, consumers faced higher costs, with a 7-kilowatt system exceeding Rs920,000, a 10-kilowatt system priced at Rs1.25 million, a 12-kilowatt system reaching Rs1.6 million, and a 15-kilowatt system standing at Rs1.8 million.