Solar Panel Prices Hit Record Low, Bringing Down Battery Costs

Solar battery prices have significantly dropped following a record decline in the country’s solar panel costs.

According to dealers, solar battery prices have dropped by 20%. For instance, the price of a lithium solar battery has dropped from 450,000 PKR to 380,000 PKR. As an example, tubular batteries that were formerly sold for 70,000 PKR are now priced at 55,000 PKR.

Solar panel prices have dropped even more, hitting a new low of 28 PKR per watt. Salespeople observed that big importers failed in their efforts to raise prices to 33 PKR/watt. Some solar inverter makers have slashed their costs by 3–5% as a result of sluggish sales caused by pollution and cold weather in Punjab.

It’s worth noting that more and more individuals are installing solar panels on their homes as a result of increasing temperatures, expensive electricity, and frequent power outages.