LAHORE: The prices of solar panels saw a major drop ahead of the summer season in Pakistan. Solar panels have become affordable due to the production increased by Chinese companies, leading to a surplus of panels in local and global markets.
Solar panels, which are being promoted by the government for energy production at the household level, are a source of renewable energy that cuts dependency on the national grid as a household can produce electricity on its own for its routine use.
Additional electricity can also be sold to the government through a net-metering system.
Production of low-cost Chinese solar panels has caused big competition for the US and European manufacturers. International Energy Agency predicts global solar panel supply to reach 1,100 gigawatts by the end of the year, tripling ongoing demand.
Solar Panel Prices in Pakistan 2024
Earlier, Solar panel prices dropped in 2023 and are expected to further down by 40 percent in the coming days.
According to the details, the cost of solar systems with capacities between 7 and 15 kilowatts decreased by Rs. 200,000. Surprisingly, the price has dropped recently, especially because summer is quickly approaching and prices usually climb around this period.
Meezan Bank Solar Panel Financing 2024
Meezan Bank solar panel financing plan for up to 10 kilowatt setups for the period of two years.
Category: | Salaried |
Quotation Amount: | Rs920,000 |
Down Payment: | Rs230,000 |
Tenure: | 2 Years |
Tentative Payment Schedule
Installment # | Installment Month | Monthly Payment |
---|---|---|
1 | March 2024 | 41,729 |
2 | April 2024 | 42,046 |
3 | May 2024 | 41,058 |
4 | June 2024 | 40,890 |
5 | July 2024 | 39,939 |
6 | August 2024 | 39,734 |
7 | September 2024 | 39,156 |
8 | October 2024 | 38,261 |
9 | November 2024 | 38,000 |
10 | December 2024 | 37,142 |
11 | January 2025 | 36,843 |
12 | February 2025 | 36,265 |
13 | March 2025 | 35,016 |
14 | April 2025 | 35,109 |
15 | May 2025 | 34,344 |
16 | June 2025 | 33,953 |
17 | July 2025 | 33,226 |
18 | August 2025 | 32,797 |
19 | September 2025 | 32,219 |
20 | October 2025 | 31,547 |
21 | November 2025 | 31,062 |
22 | December 2025 | 30,428 |
23 | January 2026 | 29,906 |
24 | February 2026 | 29,328 |