Big Drop In Solar Panel Prices
According to the latest reports, solar panel prices have dropped by 25%, as prices fall to RS 28 per watt in Hyderabad. The prices of 585-watt A-grade solar panels dropped down to RS 16,500 from 22,000. This is an encouraging sign for small households and business owners who are suffering from load shedding, soaring temperatures, and high electricity prices. This major development will boost the use of clean energy among the people of Pakistan.
Opportunity for People of Pakistan
With all those concerns in mind, this is a very lucrative opportunity for the people of Pakistan to make a shift to solar energy, which helps them lower their expenses as well as lowering the burden on the national grid. Rising demand and the advancement in solar technology makes it a sustainable go to option for users to power up their houses and businesses.
Net Metering and Economic Coordination Committee (ECC) Reoprt
The price of solar panels sees a major decline due to the previous decision of the Government of Pakistan. A few days ago, the Government of Pakistan announced new rates for net metering users by declining the rates of energy that is generated with the help of solar panels from RS 27 per unit to RS 10 per unit.
These reverse buyback rates decisions are made on the advised Economic Coordination Committee (ECC) According to (ECC) this will lower down the prices of electricity for consumers that are using grid electricity to meet their energy needs. This decision of the Government is now showing its impact in lowering the prices of solar panels in Pakistan.
Growth of Industry
In recent years the growth rate of solar energy in Pakistan is increased by 1184.74%. It went from 321MW in 2021 to 4124 MW by the end of 2024, this growth rate is very huge. But the critics and the expert suggests that this recent development of repurchasing rate made by the government will put heavy additional financial burden on solar sector which also plays a role in slowing down the growth rate of this sector in Pakistan.
Reports of Local Market
By taking all those notes, the local market sees a significant increase in sales. Many solar panels sellers across the region shared that they are seeing a huge number of customers are coming in the market to buy solar panels after a significant drop in prices. Many people are now looking to switch to clean energy by preferring small setups to lighten up their houses and also want load shading freedom as well in this summer.
Concerns of Industry Experts
This move will encourage more people to shift towards clean energy, but it raises concerns among the leaders within the solar industry. They are showing huge concerns among the leaders and the experts within the industry; they are saying this will harm the growth and reduce the long-term savings on investment of investors in the solar power world.
Conclusion
Most of the people in the country are adopting solar energy to meet their energy requirements and are showing no interest in relying on traditional grid electricity. But the expert of solar industry suggest that the Government should change their policies or make further amendments in their policies to make the future more secure than ever for the solar industry, or else it will become very difficult to survive in the solar industry. If the Government makes policies to lower the soaring or high electricity prices, it will be very helpful to survive and also help in achieving sustainable growth as well.
