A notable decline in solar panel prices, the cost of lithium batteries in Pakistan has also dropped significantly as cooler weather sets in.

Reports indicate that battery prices have decreased by 20%, with further reductions anticipated in the coming months due to a decrease in the inflation rate resulting from effective government policies.

Previously priced at Rs400,000, lithium batteries are now available for Rs380,000.

Similarly, the price of tubular batteries has fallen by Rs15,000, bringing it down to Rs55,000 from Rs70,000.

The trend of decreasing solar panel prices continues, with the cost per watt now reaching a record low of Rs28.

This decline over the past year can be attributed to various factors, and local suppliers are hopeful for additional price drops.

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Federal Minister Owais Laghari recently announced that Pakistan imported 8,000 megawatts of solar panels in the past year, which is equivalent to 30-35% of the electricity generated by the world’s largest hydropower project, the Three Gorges Dam.

Given the expanding solar market, some companies are planning to establish manufacturing plants for solar inverters in Pakistan, which would help save foreign exchange by increasing local production of solar systems.