Solar panel prices have started declining in Lahore, with rates falling between Rs. 4,000 and Rs. 9,000 across various panel categories, according to market sources.
Traders have linked the price reduction to the recent cut in petroleum prices and believe solar equipment could become even more affordable in the coming weeks if fuel prices remain stable.
The decrease comes as transportation and logistics costs ease following the reduction in fuel prices, lowering overall supply chain expenses for solar equipment distributors and retailers.
Industry sources also indicated that battery prices are expected to decline in the near future. Battery costs had previously surged by Rs. 27,000 to Rs. 38,000 per unit due to increased transportation expenses during a period of elevated fuel prices.
The anticipated reduction in the cost of solar systems could provide significant relief to households and businesses considering a switch to renewable energy, particularly as consumers continue to face high electricity costs.
Market participants expect further adjustments in solar panel and battery prices if petroleum prices remain stable and transportation costs continue to ease.
