ISLAMABAD: The beginning of the new year, Pakistan’s rapidly growing solar energy market has been hit by an unexpected and sharp surge in prices, leaving consumers, traders, and energy planners increasingly concerned.
What was once seen as a stable and affordable alternative to conventional electricity is now showing signs of serious price volatility. The prices of imported Chinese solar panels have risen significantly across major cities, including Karachi, Lahore, and Islamabad.
In this sense, panels with capacities of 585 watts, 645 watts, and 720 watts among the most popular choices for residential and commercial users have all witnessed sudden increases of around Rs5,000 per unit within a short period.
The price of a 585-watt solar panel, which previously ranged between Rs16,000 and Rs17,000, has now climbed to nearly Rs21,000.
Similarly, a 645-watt panel is being sold for up to Rs25,000, while the high-capacity 720-watt panel has reached alarming levels of Rs30,000 to Rs35,000 in local markets.
In this regard, industry representatives say the price hike has not occurred in isolation. Salim Memon, an importer of solar panels and Vice President of the Karachi Electronics Dealers Association, pointed to rising global commodity prices as a key factor.
He explained that increases in the international prices of silver and copper—both critical components in solar panel manufacturing have pushed up production costs for Chinese manufacturers.
The per-watt price of solar panels has reportedly jumped from Rs22 to Rs33, a development that is already reshaping buying decisions across the country. Despite the presence of substantial solar panel stockpiles due to heavy imports over the last two years, prices continue to climb rather than stabilize.
Perhaps most concerning for consumers is that solar panels are not the only component becoming more expensive. Prices of solar batteries have also increased by nearly 10 percent in just the past month.
