Imported Chinese panels are becoming more expensive due to rising global commodity prices, higher demand
Men load solar panels onto a rickshaw at a market in Karachi. Source: Reuters
KARACHI:
There has been a sharp upward trend in the prices of solar panels across the country since the beginning of this year. In local markets, prices of imported Chinese solar panels with capacities of 585 watts, 645 watts and 720 watts have increased by an average of Rs 5,000.
As a result, the price of a 585-watt solar panel has gone up from Rs16,000-17,000 to Rs20,000-21,000. Similarly, the price of a 645-watt panel has increased from Rs20,000 to Rs24,000-25,000, while the price of a 720-watt panel has jumped from Rs22,000-25,000 to Rs30,000-35,000.
Solar panel importer and Vice President of Karachi Electronics Dealers Association Saleem Memon told The Express Pakinomist that rising global prices of silver and copper have increased the cost of production for Chinese solar companies. Due to this, the cost per watt of solar panels has increased from Rs22 to Rs33 over the past five months.
He added that due to growing public demand and further price hikes in China, the cost per watt of solar panels may rise to Rs40 in the coming months. He also pointed out that duties imposed on imports of Chinese solar panels are another major factor contributing to the price increase.
According to him, the increasing competition in solar panel technology at the local level is also affecting prices. He noted that due to large-scale imports over the past two years, substantial stocks of solar panels are currently available in the country.
Saleem Memon further said that not only have solar panels become more expensive nationwide, but the prices of batteries used with solar systems have also increased. During the past month, the prices of solar batteries have increased by around 10 per cent.
