With the abundant sunlight in the country and frequent electricity load shedding, installing a solar system is a hot topic in Pakistan nowadays because people want to overcome their energy expenses by adopting the solar energy as their primary energy option. The one unit price of electricity is also increasing rapidly. Many households and businesses have shifted to solar energy which caused the fluctuation in the solar panel prices. Before buying any solar system, its important to understand the factors that influence the solar panel price in Pakistan.
Let’s deep dive to explore which factors are influencing the prices of solar panels in Pakistan:
Government Incentives:
Government policies can play a vital role in the solar panel price in Pakistan. The government of Pakistan has been encouraging the use of solar energy through various packages and solar schemes. For example, the CM Punjab solar panel scheme, led by Ms. Maryam Nawaz is a solar relief package as the government wants its people to adopt solar energy as their primary energy solution. The Punjab government is aimed to power 50,000 households in Punjab province with renewable solar energy.
Price of Other Components:
Solar components like solar inverters and solar batteries play a vital role in the price variations of solar panels. The price of these components depends on the brand quality and the size of the component. The components with top notch quality will be more expensive than lower quality components.
Quality and Brand:
Popular brands offer high prices of solar panels due to their top quality and high efficiency because the high quality products are considered to be more efficient.
Efficiency of Solar Plates:
The solar panels with the high efficiency tend to be more expensive because they generate more power and can save a lot on your monthly bills. On the other hand, low efficient solar do not provide you the enough electricity that your appliances require.
Size & Capacity of Solar System:
The capacity and size of your solar system directly impact on the solar panel pricing. The solar system with the high capacity will cost you expensive than the lower one. For example, a 6 kilowatt solar system will be less expensive than 2 kilowatt solar system. The amount of sunlight on your roof is a crucial element because if the amount of sunlight is low, you may need to install higher number of solar plates to meet your appliances energy needs.
Installation Costs:
The installation cost of a solar system can vary depending on the complexity of installation method, wiring expenses, mechanical instruments and labor costs. You may experience a variation in the labor charges depending on the location of your premises where you are going to install your solar system. For example, labor cost in Lahore is lower than labor cost in Hyderabad.
Maintenance and Lifespan:
Solar panels with minimal maintenance expenses can increase the initial price. But their high quality and longevity can make it the best choice for their users over time. Because the low quality solar panels require more maintenance which may lead to frustration of solar energy consumers.
Devaluation of the Currency:
The value of the PKR against other currencies can also vary the solar panel prices. If the Rupee weakens against the dollar, the cost of imported solar panels will increase because most of the solar systems are priced in dollars.
Consumer Awareness
The supply and demand of solar panels can also make an important effect on its pricing. When more people want to buy solar panels, the prices can increase rapidly. But if there is a large supply of solar panels in the market prices can come down. In recent years, the demand for solar panels in Pakistan has increased which has increased the solar prices for top 10 solar panels in Pakistan.
Conclusion:
Installing a solar system in Pakistan in this inflation can be very beneficial but you must have the knowledge of the factors that influence the price of solar panels. Understanding the factors can help you make an informed decision. Government policies, exchange rates, supply and demand, currency variation, installation costs and the quality and brand of the panels all play a role. By staying informed about these factors, you can find the best solar panels at the best price in the local market.
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