ISLAMABAD: With the rising cost of living in Pakistan, citizens are increasingly concerned about excessive electricity bills. Many are eager to install solar panel systems on their homes, offices, or shops to alleviate this burden. However, they hesitate due to the perception that such systems may require a significant investment ranging from 800,000 to 1,000,000 PKR.
Good news awaits those individuals as the prices of solar panels have dropped significantly compared to last year. The cost of solar panels has decreased by more than 50% compared to the previous year, with the current price per watt ranging from 50 to 60 PKR, down from 120 PKR last year.
Experts indicate that approximately 70% of the total cost of a solar panel system depends on the price of the panels. With panel prices reduced, individuals opting for complete solar systems can save between 35% to 40% compared to last year’s expenses.
According to specialists, a solar system with a capacity of five to seven kilowatts is typically installed in a five-marla house, with the total cost ranging from 1,200,000 to 1,500,000 PKR last year. However, due to the affordability of solar panels now, the same system can be installed for 800,000 to 1,000,000 PKR.
For larger households requiring systems with capacities ranging from ten to fifteen kilowatts, last year’s installation cost was between 2,200,000 to 2,500,000 PKR. This expense can now be reduced to 1,300,000 to 1,500,000 PKR, making solar panel systems more accessible to a wider range of consumers.
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Similarly, smaller households can now install solar panel systems for as low as 400,000 to 500,000 PKR, while larger households can do so for 800,000 to 1,000,000 PKR, significantly reducing their expenses.
This reduction in solar panel prices offers a ray of hope for Pakistani consumers grappling with high electricity bills, providing them with a cost-effective and sustainable solution to their energy needs.