Solar Panel Prices Drop In Pakistan
In a historic turn of events, we are witnessing one of the most beneficial changes and shifts and that is the massive price drop in Solar panels in Pakistan. It wasn’t long ago when some experts expected this major shift and now as we are here, we are witnessing a major drop in the price drop in solar panels in this sweltering weather.
Here is more to the exciting news.
Pakistan And Solar Panels
For the past years, the solar dilemma has been very prevalent. Every summer a recurring problem and that problem was being the solar panel. Despite how useful and important solar panels are, people were deprived of their usage as it was incredibly expensive for the normal middle class.
There were other aspects as well including the long instalments that are very tiring and very long. But this time all odds are in favor as we see this massive price drop in solar panels. Furthermore, some things would determine the price of solar including inclusive technological advancements, producing efficiencies, economies of scale, and policies of the government that were almost changing.
The Price Drop In Solar Panels
According to the latest reports, there has been a recent drop in the prices of solar panels in various parts of the world. The list includes many Scandinavian countries and European countries. Solar panels have now become incredibly inexpensive and that is majorly for their massive use and to beat the deadly summers that have only increased over the years, which is thanks to global warming.
According to many reports, the recent reduction in the price ranges from Rs 100,000 to a substantial Rs 200,000, reflecting a considerable change in the market dynamics. Furthermore, the price of a 7Kilowatt system has been slashed and reduced by Rs100,000 which is now standing at Rs825,200, while a 10-kilowatt system is now available at Rs1.125 million after a significant drop in price.
Many experts say that this notable shift also comes from previous months’ scenarios where the prices increased. While we are still shocked by this new development it may also come because of the surge in production of Chinese companies in the global market. These Chinese companies offer solar panels at a much cheaper and because of their oversupply, their rates and prices have dropped.
Factors Affecting The Recent Price Drop
Many things have affected the recent price drop in solar panels and as discussed earlier this is also because of the shift of the government and their plans, but here are some major factors that have contributed to the massive price drop;
1. Importance Of Renewable Energy
Although it took a long for us to realise the importance of renewable energy it was only some time ago when people and businesses started to adopt renewable energy. All over Pakistan solar panels were installed subsequently.
2. Hike In Electricity
One of the major reasons why there was a rapid increase in the use of solar panels and their price drop was because of how expensive electricity has become in the recent few years. Last year as we all saw it, there was a surge in the prices of electricity which led to a massive protest in the country. Therefore, more people have shifted towards more easy and cheaper options like solar panels that will save them bucks!
3. Innovation And Growth
With the drop in the prices of solar panels, it will also lead to new technologies emerging. This will bring in bigger and better players and will also enable local businesses to step in.
Conclusion
In the end, nothing is better than the availability of comfort to our people. The recent shift and price drop will help many people in the country.