KARACHI – After a sharp decline in solar panel rates, the prices of lithium batteries has registered a significant decrease in Pakistan with the start of the cold weather.
Reports said the prices of the batteries dropped by 20 percent in the country with further decrease is expected in coming months as inflation rate is falling due to effective policies of the government.
The Lithium batteries, which were previously sold for Rs400,000, are now available for Rs380,000 while the price of tubular battery dropped by Rs15,000 to Rs55,000 as compared to previous rate of Rs70,000.
Meanwhile, the downward trend in solar panel prices is not over yet as the cost per watt of solar panels has dropped further, reaching a new low of Rs28 per watt.
The price of solar panels has fallen in just one year due to various factors. Local suppliers are waiting for further price drops.
Federal Minister Owais Laghari recently revealed that in just one year, Pakistan imported 8,000 megawatts of solar panels. This is equivalent to 30-35% of the electricity generated by the world’s largest Three Gorges Dam, which produces 22,000 megawatts.
Due to such a large market, some companies are planning to set up solar inverter manufacturing plants in Pakistan, as local production of solar systems will save some foreign exchange.
