Imported Chinese panels become more expensive amid rising global raw material prices and higher demand
Men load solar panels onto a rickshaw in a market in Karachi. Source: Reuters
KARACHI:
Since the beginning of this year, a strong upward trend in solar panel prices has emerged across the country. 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 increased from Rs 16,000-17,000 to Rs 20,000-21,000. Similarly, the price of a 645-watt panel has increased from Rs 20,000 to Rs 24,000-25,000, while the price of a 720-watt panel has increased from Rs 22,000-25,000 to Rs 30,000-35,000.
Solar panel importer and vice president of Karachi Electronics Dealers Association Saleem Memon told The Express PAkGazette that rising global silver and copper prices have increased the cost of production for Chinese solar companies. Due to this, the price per watt of solar panels has increased from Rs 22 to Rs 33 in the last five months.
He added that due to growing public demand and further price increases in China, the price per watt of solar panels may rise to Rs 40 in the coming months. He also noted that taxes imposed on the import of Chinese solar panels are another major factor contributing to the price increase.
According to him, increasing competition in solar panel technology locally is also affecting prices. He noted that due to large-scale imports in the last two years, there are currently substantial stocks of solar panels available in the country.
Saleem Memon further said that not only have solar panels become more expensive across the country, but the prices of batteries used with solar systems have also increased. Over the past month, solar battery prices have increased by around 10 percent.
