Solar panel new prices in Pakistan reduced by up to 50pc
KARACHI – Over the past few days, solar module costs have experienced a significant decline, thanks to the substantial recovery of the Pakistani rupee in its exchange rate against the US dollar.
During the recent months marked by a crisis and a substantial increase in the value of the US dollar, the expenses associated with establishing solar power initiatives in Pakistan escalated significantly, even in the presence of tax exemptions. However, the resurgence of the rupee has alleviated this situation.
Prices across all module categories have undergone adjustments, with reductions of as much as 50% from their previously inflated levels. Individuals interested in installing new systems for residential or commercial use have been receiving quotes at historically unprecedented prices. Such a rapid and significant drop in prices has not been witnessed before.
According to media reports, the prices of solar panels, batteries, and even labor costs have decreased significantly due to a dramatic shift.
| Solar Panel per Watt | Old Rates | New Rates | |
| 165 WAtt Solar Panel | Rs16,200 | Rs10,800 | |
| 260 Watt Solar Panel | Rs30,000 | Rs26,000 | |
| 550 Watt Solar Panel | Rs48,400 | Rs33,000 |
In February 2023, the government eliminated all taxes on the import of solar products to encourage the adoption of solar systems among the public. This change in policy played a crucial role in reducing prices, but the depreciation of the rupee subsequently caused them to rise again.
In certain regions of Pakistan, a 550-watt solar panel is currently priced at around 35,000-40,000 rupees, a significant drop from the previous price of Rs75,000.