KARACHI – Solar panel prices in Pakistan have hit a new low, dropping to Rs28 per watt. This significant price reduction has spurred increased interest at a solar panel exhibition in Karachi, where buyers are flocking to take advantage of the lower costs.
Local suppliers are anticipating further price drops, as the demand for solar panels grows.
Federal Minister Awais Leghari recently shared that Pakistan imported 8,000 megawatts of solar panels in the past year—equivalent to 30-35% of the power output from the world’s largest hydroelectric project, the Three Gorges Dam.
In response to this growing market, several companies are planning to establish solar inverter manufacturing plants in Pakistan, which will help reduce the country’s reliance on imports and conserve foreign exchange.
