KARACHI (Kashmir English): With the start of this year, there has been a sudden and significant increase in solar panel prices in the country.
According to media reports, the prices of imported Chinese solar panels, especially those with capacities of 585, 645, and 720 watts, have increased by an average of up to Rs5,000 in local markets.
After the price increase, a 585-watt solar panel, which was previously available for Rs16,000 to Rs17,000, is now being sold for Rs20,000 to Rs21,000.
Solar panel prices
Similarly, the price of a 645-watt solar panel has risen from Rs20,000 to Rs24,000-25,000, while the largest increase has been recorded in the price of 720-watt solar panels, which were previously available for Rs22,000-25,000 and are now being sold at a level of Rs30,000-35,000.
Saleem Memon, a solar panel importer and Vice President of the Karachi Electronics Dealers Association, stated that the significant increase in the production cost of Chinese solar companies is due to the rise in prices of important metals like silver and copper in the international market.
According to him, over the past five months, the per-watt price of solar panels has increased from Rs22 to Rs33.
Saleem Memon said that due to the increasing public demand for solar systems and rising prices in China, there is a fear that the per-watt price of solar panels could reach Rs40 in the coming months.
He stated that various taxes imposed on the import of Chinese solar panels are also a major reason for the price increase, while the lack of competition in solar technology at the local level also prevents prices from being controlled.
He further added that despite a large stock of solar panels in the country due to large-scale imports over the past two years, prices are increasing instead of decreasing. “Not only solar panels but also the batteries used in them have become expensive, and a nearly 10% increase in solar battery prices has been recorded over the past month.”
