Prices of solar panels experience a substantial decrease in anticipation of the upcoming summer season.

Reports indicate that there has been a substantial decrease in the cost of solar systems with a capacity ranging from 7 to 15 kilowatts. This reduction in price is good news for homeowners who are interested in harnessing solar electricity.

Recent media sources have reported a substantial decline in prices, ranging from Rs100,000 to a substantial Rs200,000, suggesting a significant shift in market dynamics. To be more exact, the price of a 7-kilowatt system has been decreased by Rs100,000, resulting in a new cost of Rs825,000. Similarly, a 10-kilowatt system is currently available at a price of Rs1.125 million after a significant reduction in cost.

Furthermore, the cost of a 12-kilowatt system has been reduced to Rs1.4 million, while a 15-kilowatt system now carries a price tag of Rs1.6 million, resulting in a substantial discount of Rs200,000 for both.

The substantial decline in solar panel prices is in sharp contrast to the previous month’s scenario, whereby prices surged from Rs75,000 to a staggering Rs300,000 as a result of escalating demand.

During the preceding month, consumers faced the difficulty of managing rising expenditures. More precisely, a 7-kilowatt system had a price tag of Rs920,000, a 10-kilowatt system was priced at Rs1.25 million, a 12-kilowatt system had a price of Rs1.6 million, and a 15-kilowatt system had a price of Rs1.8 million.

The recent decrease in prices not only brings relief to consumers but also emphasizes the growing affordability and accessibility of solar energy options in Lahore. Due to the increasing significance of sustainable energy sources in combating climate change and fulfilling energy needs, the decreasing cost of solar panels is anticipated to incentivize a greater number of individuals to embrace clean energy options.