Prices for solar panels hit an all-time low and are predicted to continue declining.

Global media outlets have stated that solar panels are being used to create garden walls in Germany and the Netherlands because they are now so inexpensive in many places across the world, including Europe.

A growing trend in Europe is to use solar panels for garden fences rather than conventional rooftop installations, as evidenced by photos posted on social media from that continent. People in these nations are looking into different applications for solar panels due to the high labour costs associated with rooftop installations.

The decrease in the cost of solar panels can be ascribed to the growing output of Chinese enterprises that has overtaken the international market. Due to the overabundance, US and European producers have found it difficult to compete, which has caused costs to decrease significantly.

The International Energy Agency predicts that by year’s end, the world’s supply of solar panels will have tripled to 1,100 gigawatts, exceeding the present demand. Spot market prices are expected to drop by 40 percent by 2028, having already cut in half in 2023.

Prices for solar power-generating panels have also decreased in Pakistan; this was particularly evident in the previous year. Seven to fifteen kilowatt systems are currently available on the market for as little as Rs 200,000. Businesses that sell solar panels credit this tendency to a number of variables and predict more price cuts in the near future.

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