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Friday, April 19, 2024  
09 Shawwal 1445  

Solar panel prices decrease as Pakistan nears end of winter

Read what kind of solar system you will need based on the use of electricity units
A man sets up a solar panel outside his makeshift house near Bakrani Road in Larkana on July 26, 2019. APP
A man sets up a solar panel outside his makeshift house near Bakrani Road in Larkana on July 26, 2019. APP

Rates of solar panels have been decreased in Punjab’s Lahore ahead of the summer season as people look for alternate options amid an increase in electricity tariffs.

The price of photovoltaic solar panels – most commonly used in residential installations – ranging from about seven watts to 15 watts per panel has decreased, according to media reports. There was a decrease of Rs100,000 to Rs200,000 on them.

On average, if consumers use between 300-350 units, they will need a 3kW solar power system. They will need a 5kW system if they use between 500-550 units. And, if any consumer’s monthly electricity usage is between 1,000 to 1,100 units then they would need a 10kW system.

It merits here to mention that the Central Power Purchasing Agency has sought about Rs5 per unit increase in fuel cost adjustment in upcoming bills on account of electricity consumed in February to generate another Rs35 billion for ex-Wapda Distribution Companies.

Reports said that a Rs100,000 decrease has been seen in the price of a seven-kilowatt system, bringing it to Rs825,000 while a 10-kilowatt system is available at Rs1.125 million after a significant slump in rates.

The cost of a 12-kilowatt system fell to Rs1.4 million and a 15-kilowatt system stands at Rs1.6 million, both showing a reduction of Rs200,000.

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The real reason solar panel prices are declining

Rates of solar power systems have taken a dip compared to the previous month when prices increased from Rs75,000 to a staggering Rs300,000 due to increasing demand.

In February, a seven-kilowatt system was available at Rs920,000, a 10-kilowatt system at Rs1.25 million, a 12-kilowatt system at Rs1.6 million and a 15-kilowatt system at Rs1.8 million.

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