Electronics and Home Appliances

Solar Panel Price Trends: A Comprehensive Guide for Pakistan in 2024

Solar Panel Price Trends: A Comprehensive Guide for Pakistan in 2024

From luxury to necessity, solar panels are rapidly becoming a household item in Pakistan. Initially, they could be seen on the roofs of the wealthy. Recently, however, even the middle class has invested their hard-earned savings in them, thanks to the ever-increasing energy tariff. Furthermore, various tax reductions and subsidies for solar panel installation by the government of Pakistan have made this alternative and cleaner form of energy accessible to many. With increasing demand comes soaring prices, however. In this blog, we will tell you about the latest solar panel prices in Pakistan (2024).

You may also like: CM Punjab Solar Panel Scheme 2024

Solar Panel Price Increase in Pakistan (2024)

As mentioned earlier, solar panel prices keep changing. However, this is not always due to supply-demand dynamics; seasons or weather also make an impact. For example, solar panel prices spike during the summer and decline during winter, for obvious reasons.

At the time of publishing this blog, the following are the current approximate prices.  

The cost of solar panels has surged from Rs.75,000 to Rs.300,000.

7 KW Solar System Price in Pakistan

A 7-kilowatt system previously priced at Rs.800,000 now exceeds Rs.900,000.

10 KW Solar System Price in Pakistan

Similarly, a 10-kilowatt system increased from Rs.11 lac to Rs.13.0 lac.

12 KW Solar System Price in Pakistan

 A 12-kilowatt system rose from Rs.14 lac to Rs.16 lac.

15 KW Solar System Price in Pakistan

The price of a 15-kilowatt system is around Rs.18 lac.

This price hike is particularly affecting grid-connected solar panel systems. Additionally, hybrid setups, which include batteries for energy storage, incur additional expenses. Moreover, financial strain is felt by consumers, especially those participating in the federal government’s net metering project.

Solar Panel Systems and Their Future Prices 

Are you waiting for the prices to come down before making your decision? 

Economic factors and political instability in Pakistan play significant roles in contributing to the fluctuating prices of solar panels. The country’s economic conditions and political landscape can influence the availability of resources, import/export policies, and overall market stability, impacting the cost of solar panels.

Additionally, various factors related to the solar panels themselves contribute to the escalating costs. These include brand reputation, which often reflects the quality and reliability of the panels. Higher-quality brands may command higher prices due to their reputation for durability and efficiency.

Efficiency rating is another crucial factor affecting costs. Panels with higher efficiency ratings typically cost more but can generate more electricity in less space, making them a preferred choice for certain installations.

The capacity of the solar panel system also affects pricing, with larger systems generally costing more due to the increased number of panels required to meet energy demands.

Furthermore, specific installation requirements, such as the need for specialized mounting equipment or complex wiring configurations, can add to the overall cost of the solar panel system. These factors collectively contribute to the fluctuating prices observed in the solar panel market in Pakistan.

To provide our readers with the most comprehensive and updated information on solar panel systems, we have written extensively on this topic. You may be interested in reading these blogs before making your final decision: 

Guide to Buy the Right Solar Panel System for Your Home

Sunny Days and Cloudy Nights: The Benefits and Drawbacks of Solar Panels

Saving Money with Solar: The Best Solar Panels Companies in Pakistan

Download the OLX App Now!

Leave a Reply

Your email address will not be published. Required fields are marked *