Achi news desk-
Lahore (News Desk) Before the start of summer in Pakistan, the prices of solar panels have dropped significantly.
Solar panels have become cheaper due to increased production by Chinese companies.
American and European manufacturers face stiff competition from low-cost Chinese solar panels entering the market.
The International Energy Agency predicts that global solar panel supply will reach 1,100 gigawatts by the end of the year, tripling ongoing demand.
Solar panel prices fell in 2023 and are expected to drop another 40 percent in the coming days.
With the price reduction, the cost of 7 to 15 kW systems comes down to Rs 2 lakh.
Solar panel business will also pick up in the coming months as people pay record prices in utility bills.
