Solar Panel Prices Increase Once Again

The cost of solar panels has risen once again in Lahore. The price of a 7 to 15-kilowatt system has surged from Rs25,000 to Rs50,000. Additionally, the market has witnessed an increase in prices by Rs6 per watt.

As a result, the seven-kilowatt system will now be priced at Rs850,000, reflecting an increment of Rs25,000. Similarly, the new price for a 10 kW system has escalated from Rs1.15 million to Rs1.2 million. The cost of a 12 kilowatt system has been set at Rs1.45 million, marking an increase of Rs50,000. Additionally, the price of a 15 kilowatt system has been established at Rs1.6 million.

All on-grid solar systems come with a set price while transitioning to a hybrid system will entail additional costs for batteries.

Previously the prices of solar panels were slashed significantly in the Lahore markets because of the mass production of solar panels by Chinese solar companies and others during the post-COVID period. The whole world was investing in renewable energy resources, so the solar manufacturer
s in China took it as an opportunity and started solar panel production on a massive scale.

Source: Pro Pakistani