The depreciation of the US dollar relative to the Pakistani Rupee has had a significant impact on the cost of solar panels in various Pakistani cities. This shift is primarily due to the favorable exchange rate, making renewable energy options more cost-effective for consumers.
For instance, in Karachi, the price of a 165-watt solar panel has dropped from Rs15,000 to Rs5,000, with similar price reductions seen for 260-watt and 550-watt panels. This decrease in prices isn’t limited to Karachi alone but extends to other cities like Islamabad, Multan, Faisalabad, and Quetta.
A key factor contributing to this price drop was the government’s decision to eliminate taxes on solar imports in February of the same year. This policy change significantly reduced solar panel prices, from Rs135 per watt to Rs70 per watt. As a result, 550-watt panels in Islamabad, formerly priced at Rs75,000, are now available for Rs34,000.
This price reduction benefits consumers and aligns with Pakistan’s goals to encourage accessible and sustainable energy solutions. It signifies a positive development and supports the country’s objectives for greener energy options while offering economic advantages to businesses and individuals alike.
