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Islamabad, Pakistan – In a significant development, the solar panel prices have dropped substantially across the country. According to industry reports, the prices of solar panels ranging from 5 to 15 kilowatts have been reduced by up to 3 lakh rupees.
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The market price of a 5-kilowatt solar system has now dropped to 6 lakh 50 thousand rupees, while the price of a 7-kilowatt system has been reduced to 7 lakh 25 thousand rupees. Similarly, the cost of a 10-kilowatt setup has been slashed to 9 lakh 50 thousand rupees, and the 12-kilowatt system is now available for 1.1 million rupees. The price of a 15-kilowatt solar system has been set at 1.25 million rupees.
This price drop is expected to boost the adoption of solar energy in Pakistan, particularly among households and small businesses. However, it’s important to note that these prices apply specifically to off-grid systems, which are designed to be connected to the national grid.
Those opting for hybrid systems, which allow for energy storage using batteries, will need to bear the additional cost of batteries. Despite this, the reduced prices are seen as a significant incentive for Pakistanis to switch to renewable energy sources.
Industry experts predict that this price drop will lead to increased demand for solar panels, driving growth in the renewable energy sector and contributing to Pakistan’s efforts to reduce its reliance on fossil fuels.