ISLAMABAD (Kashmir English): There is good news for consumers planning to install solar systems: a significant drop in the prices of lithium batteries used in these systems has been recorded in the Lahore market.
Prices for various types of batteries have decreased by amounts ranging from PKR 20,000 to PKR 100,000.
According to market sources, the downward trend in the rates of lithium batteries, used in on-grid, hybrid, and off-grid solar systems, persists, thereby reducing the overall cost for consumers installing these systems.
Sources indicate that the price of a 5kW lithium battery has dropped from PKR 250,000 to PKR 230,000, while the price of a 16kW battery has fallen from PKR 750,000 to PKR 650,000.
Alongside lithium batteries, a decline in solar panel prices is also being observed in the market, leading to increased consumer interest in installing solar systems.
Meanwhile, following changes to the net-metering policy, demand for off-grid and hybrid solar systems—which serve as alternative power arrangements- is rising; consumers are increasingly incorporating lithium batteries into their solar setups to store electricity.
Market sources state that the drop in solar panel and lithium battery prices has lowered the initial cost of solar systems for both residential and commercial consumers; further price reductions could lead to even greater demand for solar products.
