Massive Drop in Solar Panel Prices Seen in Lahore

The prices of solar panels have seen a significant reduction in Lahore’s markets. According to a report, systems ranging from 7 to 15 kilowatts are now Rs. 200,000 cheaper. The cost of a 7-kilowatt system has been reduced by Rs. 100,000 to Rs. 825,000, while the new price for a 10-kilowatt system is now Rs. 1.125 million. Following a decrease of Rs. 200,000, a 12-kilowatt system now costs Rs. 1.4 million. The report added that the price for a 15-kilowatt system stands at Rs. 1.6 million, following a Rs. 200,000 reduction. The recent price reduction has come as a surprise, especially with the summer season approaching, a time when prices typically soar. Just last month, solar panels witnessed a significant increase in prices due to the increase in demand ahead of the summer season. The cost increased between Rs. 75,000 to Rs. 300,000. For instance, a 7-kilowatt system’s cost exceeded Rs. 920,000. Similarly, the cost of a 10-kilowatt solar panel system had increased from Rs. 11 lac to Rs. 12.5 lac. Additionally, a 12-kilowatt system’s cost reached Rs. 16 lac, while the price of a 15-kilowatt system increased to Rs. 18 lac.