The surge in solar panel imports, driven by decreasing prices in China, has prompted consumers across Pakistan to opt for solar power systems to reduce their electricity bills.

Solar panel dealers are experiencing increased business compared to previous years, while dealers of power generators and Uninterrupted Power Supply (UPS) systems are witnessing sluggish demand.

In the past, UPS systems were dominant in the market when battery prices were lower. However, dealers now report dwindling demand for UPS systems as the popularity of solar panels grows, particularly in areas like Regal Chowk.

Various sectors, including corporate offices, industries, educational institutions, and petrol pumps, are transitioning to solar systems to cut down on overhead costs.

The cost of solar systems has significantly decreased, with a 5kW system now priced at Rs 700,000-750,000, down from over Rs 1.1 million last year. Similarly, a 3kW system is available at Rs 400,000-450,000 compared to Rs 500,000 previously.

Despite recent price increases, the overall cost of solar panels remains significantly lower than previous years. The surge in imports, coupled with stable exchange rates, has driven down prices, making solar energy more accessible to consumers.

However, the prices of inverters and batteries have remained unchanged, posing a challenge to widespread adoption of solar systems. Despite this, the demand for solar panels continues to rise due to the increasing cost of grid electricity.

While some concerns exist about oversupply in the market, the growing demand for solar panels suggests a promising future for the solar energy sector in Pakistan.