LAHORE – Solar panel prices registered another decline in domestic market of Pakistan despite an increase in demand amid summer season.

Solar panel dealers said the per watt is being sold for R40 or less, adding that the average price has dropped to Rs37 per watt in Pakistan.

They have attributed the recent cut in solar panel prices to massive supply in market. The dealers said that the prices dipped by 30 percent in just six months.

Due to increase in power tariff, a huge number of residential and commercial consumers of electricity have switched to solar panel system, which uses sunlight as source to produce electricity. 

Amid surge in use of solar panels, the government is facing issues while settling the matters with the Independent Power Plants.

Last month, the Power Division rubbished the reports suggesting that the government intends to impose a fixed tax on solar power.

“There is no truth in the news of imposing a fixed tax on solar power,” the Power Division said in a statement in late April 2024

“The Central Power Purchasing Agency (CPPA) or the Power Division did not send such a summary to the government,” it added.