Solar panel prices in Pakistan have dropped to an all-time low of Rs30-32 per Watt, marking a historic decline in the industry.
This drastic reduction is due to an oversupply in the domestic market and a global decrease in lithium battery prices, which have also lowered international solar panel costs.
International lithium battery prices have fallen by nearly 50% over the past year, significantly impacting solar panel costs in Pakistan. However, prices for dry batteries have remained stable, as importers have been slow to pass on the savings to consumers.
The solar energy sector in Pakistan has been expanding since 2023, driven by increased imports from China, rising electricity bills, and the lower cost of solar panels. The demand for net metering systems has surged nationwide.