The cost of solar panels has experienced a significant reduction, providing a golden opportunity for individuals looking to make the switch to solar energy.
The price adjustment can be attributed to the recent strengthening of the local currency against the US dollar, creating a favorable market scenario for solar enthusiasts.
The cost of a 160W solar panel has seen a substantial reduction, ranging from Rs4,000 to Rs4,500, now priced at approximately Rs11,000, down from its previous rate of Rs15,000.
The decline in solar panel prices has spurred a surge in sales, particularly for larger solar panels. Consumers can now procure solar panels in the range of Rs35,000 to Rs45,000, a noteworthy drop from the inflated prices that previously hovered around Rs70,000.
This development opens up new possibilities for a broader segment of the population to embrace renewable energy solutions.
Solar power systems are gaining popularity as a sustainable energy source in Pakistan. With minimal greenhouse emissions and lower operational and maintenance costs compared to conventional energy sources, solar energy is emerging as a pragmatic choice.
This shift also contributes to reducing the country's reliance on imported fossil fuels, aligning with global efforts to mitigate climate change and decrease carbon footprints associated with electricity production.