Prices for solar panels are rising in Pakistan due to increased demand.

Prices for solar panels have skyrocketed in Pakistan, with imported Chinese panels becoming much more costly as a result of increased demand and higher global raw material costs.

Chinese solar panels with capacities of 585 watts, 645 watts, and 720 watts have seen an average price increase of Rs5,000 in local marketplaces. A 645-watt panel now costs Rs24,000–25,000, up from about Rs20,000, while the cost of a 585-watt panel has increased from Rs16,000–17,000 to Rs20,000–21,000. A 720-watt panel used to cost between Rs22,000 and Rs25,000, but now it costs between Rs30,000 and Rs35,000 instead.

Saleem Memon, a solar panel importer and vice president of the Karachi Electronics Dealers Association, claimed that Chinese manufacturers’ production costs have increased due to growing worldwide silver and copper prices. Consequently, within the last five months, the cost of solar panels has gone up from Rs22 to Rs33 per watt.

He cautioned that the price per watt would reach Rs40 in the upcoming months if current trends persist, coupled with additional price increases in China and strong local demand. Memon added that one of the main causes of the price increases was import duties on Chinese solar panels.

He went on to say that price dynamics are also being impacted by increased local rivalry in solar technologies. He pointed out that despite the recent spike, the nation now has substantial supplies of solar panels because of heavy imports over the last two years.