Solar panel prices in Pakistan are expected to rise as demand increases and imports continue to decline. Market experts have predicted that prices may either remain stable or see further hikes in the coming months due to reduced import volumes.

A recent report revealed that solar product prices had decreased earlier, leading to a surge in consumer interest in renewable energy and increased imports. However, over the past few months, imports of solar panels have dropped significantly, falling below April’s record high. By August, imports hovered around 1,100 MW, with the decline largely attributed to shipment delays and logistical challenges, which caused the preservation of existing stocks.

While the exact price increase is uncertain, the depletion of current stock could drive prices higher. Earlier this year, a significant drop in solar panel prices led to increased imports by residential, commercial, and industrial consumers, who turned to solar energy as a cost-effective solution amid rising electricity costs.

The report also mentioned that the existing supply could last for only a few months. Consumers who are waiting for further price reductions may face either more expensive or delayed availability of panels in the near future as stocks are expected to dwindle.

Currently, a 3 kW solar system is priced between Rs. 420,000 and Rs. 550,000, a 5 kW system ranges from Rs. 750,000 to Rs. 850,000, a 6 kW system can cost up to Rs. 1,000,000, and a 10 kW system is priced between Rs. 1.15 million to Rs. 1.45 million.