Consumers seeking solar energy solutions have received welcome relief as the prices of solar panels have dropped significantly in Lahore.
According to market sources, the prices of solar panels of different capacities have decreased by Rs4,000 to Rs9,000 over recent days. Traders attribute the decline to the reduction in petroleum product prices announced by the government.
Market experts believe this downward trend may continue. They say further cuts in solar panel prices are likely in the coming weeks if fuel prices remain stable or decline further.
The reduction is expected to benefit households and businesses planning to switch to solar energy amid rising electricity costs. Demand for solar systems has increased across the country in recent years as consumers look for alternative and affordable energy sources.
Sources in the solar market said that transportation and logistics costs play a major role in determining the prices of solar equipment. The recent decrease in fuel prices has lowered transportation expenses, creating room for price reductions.
Battery prices are also expected to come down. Dealers said batteries had become considerably more expensive during the period of high petroleum prices. Increased transportation costs and higher operational expenses.
