Solar System Prices In Pakistan in 2024: A Comprehensive Guide

Pakistan’s energy landscape is facing significant challenges as rising electricity tariffs and frequent load shedding are putting general public into hardships and hindering business activities, and on top of that, winter in Pakistan brings an additional burden as gas shortages force people to rely on electric heaters and electric stoves, thus further increasing the electric bills.

Fortunately, there’s a solution in the country which is solar energy. This comprehensive guide will explore the current state of solar system prices in Pakistan for 2024 where we’ll delve into how solar power can alleviate the pressure on the national grid, reduce electricity bills, and provide a reliable source of energy throughout the year. Whether you’re a homeowner, business owner, or simply interested in a sustainable future, this guide will equip you with the knowledge you need to make an informed decision about harnessing the power of the sun.

Current State of Solar Energy in Pakistan

In the immediate future of 2024, the severe energy crisis is more likely to create price volatility and potential short-term price increases due to heightened demand and economic instability.

If the crisis prompts significant and sustained government support for solar energy and a boost in local manufacturing, we could eventually see a downward trend in prices in the long run. However, this transformation is unlikely to happen very quickly.

Different Solar System Prices in Pakistan

We have compiled a list of most common solar systems that are not that expensive and are being used by small businesses and home owners, who have installed these on their roofs and getting good results from their solar systems thus reducing electric bills which is actually the whole point.

The prices of these systems depends upon multiple factors like sunshine hours and solar panel efficiency plus weather conditions, and the prices may vary from one city to another. The following are details about the solar systems most popular in Pakistan.

1KW Solar System Price in Pakistan

The 1kW solar systems are popular for small-scale applications across Pakistan, offering cost-effective and environmentally friendly energy solutions for homes and businesses. Price of 1kW solar system in Pakistan ranges from 200,000 to 270,000 rupees, covering components and installation.

Though a 1kW system theoretically produces 1 kWh, actual output varies due to factors like sunlight, panel efficiency, and weather conditions. With an average of 5 peak sun hours, it can generate around 5 kWh daily, which is 5 units a day translating to 150 units monthly.

We have broken down the 1kW solar system price in Pakistan in a separate article for your convenience.

2KW Solar System Price in Pakistan

A 2kW Solar System costs approximately Rs 400,000, and despite the initial high upfront cost, it proves worthwhile as it can power a large family home’s gadgets and offers free energy for 25 years, recouping the investment in just five years. The daily power output stands around 8 kWh per day or 240 units per month.

This system can power appliances like refrigerators and air conditioners simultaneously, along with other devices like LED lights and laptops.

3KW Solar System Price in Pakistan

A 3 kW solar system costs around Rs. 600,000, with price variations based on component quality. Hybrid systems add Rs. 80,000 to 100,000, while off-grid setups can reach Rs. 1 million. Despite costs, a 3 kW system generates 10 to 12 kWh daily, or 300 to 360 units per month. A 3kW solar system is perfect for meeting small household and business needs, saving on bills, and enhancing sustainability.

We have covered 3kW solar system in detail for better understanding.

5KW Solar System Price in Pakistan

The price range for a 5 kW solar system in 2024 is approximately Rs. 850,000 to Rs. 900,000, covering panels, hybrid inverter, installation, and mounting structures. Actual costs vary based on part quality, installation complexity, location, and optional features like battery backup.

A 5 kW system can generate around 20-25 kWh per day, equal to 22.5 units, or 675 units monthly, powering various appliances, and production depends on factors like sunlight, system efficiency, orientation, shading, and weather.

6KW Solar Systems Price in Pakistan

The cost of a 6 kW solar system in Pakistan ranges from Rs. 1,580,000 to Rs. 1,820,000, including components like monocrystalline panels, hybrid inverter, mounting structure, wiring, and monitoring system.

With an average of 5.5 peak sunlight hours, a 6 kW system can produce 20 to 28 kWh per day, totaling around 600 to 800 units monthly. This system suits medium-sized businesses consuming 600 to 700 units monthly, providing sufficient power for all appliances. The 6kW solar system has been covered in detail to help you better understand it.

7kw Solar System Price in Pakistan

The price of a 7kW solar system in Pakistan for 2024 falls within the range of Rs. 950,000 to Rs. 1,350,000, capable of producing a maximum of 7 kilowatts, or 7,000 watts, of power at any time.

On average, a 7kW solar system typically generates between 28 to 40 kWh (kilowatt-hours) of energy per day, translating to approximately 850 to 1200 units per month. This system can support a load of Iron, Refrigerator, Air Conditioner, TV, Washing Machine etc.

10KW Solar System Price in Pakistan

The price of a 10kW solar system in Pakistan in 2024 ranges from approximately Rs. 1,150,000 to Rs. 1,800,000. This system typically includes monocrystalline solar panels and other necessary components for installation. This 10kW solar system can produce between 36 to 50 kWh of electricity per day, which translates to approximately 1100 to 1500 units per month, making it suitable for powering residential homes or small businesses.

Factors Affecting Solar System Prices in Pakistan

The factors affecting solar prices in Pakistan include the type and quality of solar panels, size and capacity, the brand of solar panels, the efficiency of solar panels due to geography and climate, and the availability of batteries, inverters, taxes and other accessories.

Solar Panels

The top 5 popular solar panel firms in Pakistan are known to be Longi, JA Solar, Jinko Solar, Canadian Solar, and Inverex. Longi stands out as a major producer recognized for its tier-1 and efficient products, JA Solar ranks highly with a broad selection of panels and solar solutions, and Jinko takes a slice of the market too, catering to both home and business needs with their high performing panels.

Besides, Canadian Solar has made its mark in Pakistan by bringing diverse solar panel options, while on the other hand, although Inverex may not have the same fame as its fellow counterparts, yet it vies in the market with pricey yet quality solar solutions. A list of latest prices of solar panels for various brands is also included, where you can check the latest rates.

Solar Panel Brands	Model	Power (Watt)	Efficiency (%)	Key Features
LONGi	Hi-MO 5	550	21.5	Optimized module size, gallium-doped technology, bifacial energy yield
SunPower	Maxeon 6	440	22.8	Most efficient globally, suitable for residential and commercial use
LG	Neon R	405	22.3	High efficiency, 25-year warranty, various panel types available
Canadian Solar	CS6R-MS	440	22.5	Affordable, offers monocrystalline and polycrystalline panels
Panasonic	EverVolt H	410	22.2	Known for quality and durability, competitive pricing
REC	Alpha Pure	405	21.9	Reliable brand, 25-year warranty, commitment to innovation
JA	JAM 72S10/MR	440	20.40	A grade panels, documented quality, competitive pricing
Jinko	Tiger NEO	480	22.2	High efficiency, suitable for various applications

Solar Inverters

Solar Batteries

In the solar world, popular choices for batteries in Pakistan include Phoenix, known for their durable tubular batteries, Osaka battery, offering a wide range of deep-cycle batteries, and AGS, another trusted brand with deep-cycle options. While these are all lead-acid batteries, for a more premium and long-lasting solution, Lithium Ion batteries are gaining traction due to their extended lifespan and low maintenance, although they typically come at a higher cost. 

The current position of solar batteries prices in Pakistan varies, subject to fluctuations based on factors like brand, capacity, and specifications. 

Other Solar Accessories

In addition to solar panels, batteries, and inverters, other accessories which are needed to install an average solar system in Pakistan include mounting structures, charge controllers, wiring, connectors, and monitoring systems. Mounting structures are essential for securely installing solar panels on rooftops or the ground while charge controllers regulate the voltage and current from the solar panels to the batteries to prevent overcharging.

It is equally important to have wiring and connectors for ensuring that all components of the system are connected efficiently, as well as monitoring systems for optimizing the effectiveness of the solar system.

Net Metering in Pakistan

Net metering is an option which allows solar panel owners in Pakistan to connect to the grid and get credits for excess electricity produced. This option works smoothly with hybrid solar systems, both on-grid and off-grid. Hybrid solar systems are designed to work with net metering, allowing users to sell excess electricity back to the grid and benefit from cost savings. 

Net metering policies are typically implemented by distribution companies (DISCOs), and not directly by WAPDA. 

In Karachi, K-Electric offers net metering by crediting surplus electricity to consumers’ accounts and in Lahore, LESCO facilitates net metering by allowing consumers to offset future bills with excess energy. Similarly, MEPCO provides net metering services in Multan, FESCO implements net metering in Faisalabad, IESCO administers net metering in Islamabad and PESCO offers net metering in Peshawar.

Support From Government and Policies

The solar industry in Pakistan in 2024 is experiencing significant growth and advancements, driven by government initiatives and policies promoting renewable energy. Newly elected CM Punjab announced on April 26 that solar panels will be provided in convenient installments for citizens consuming less than 300 units of electricity. 

Here is an overview based on the market research:

• Installed Capacity: Pakistan has witnessed a remarkable increase in installed solar capacity, including utility-scale projects and distributed generation systems.
• Significant Expansion: The solar industry is witnessing rapid growth in Pakistan in 2024. This is fueled by government support, declining costs of solar technology, and a strong movement towards renewable energy sources to address the country’s energy challenges.
• Untapped Potential: Pakistan boasts excellent solar irradiation levels, making it a prime location for solar power generation on both large and small scales.
• Advantages: Solar energy adoption in Pakistan addresses energy security, reduces electricity bills, and contributes to a substantial reduction in carbon emissions, aligning with climate change commitments.
• Technological Advancements: The industry has seen advancements in high-efficiency solar panels, cost-effective manufacturing processes, and energy storage solutions like lithium-ion batteries.
• Government Initiatives: The government aims to deploy an additional 9 GW of solar power by 2030 through auctions and strategic planning.
• Economic Impact: The growth of the solar industry in Pakistan presents opportunities for job creation, local economic development, and industrial transformation.

Trends And Forecast For Solar Prices In Pakistan

Providing definitive trends on solar pricing in Pakistan for 2024 is challenging due to the dynamic nature of the market. However, based on current information and the factors we explored, solar pricing trends in Pakistan indicate a focus on high-quality products, increased government incentives, and market demand, reflecting the growing importance of solar energy in the region.

Key Takeaways

The energy crisis makes predicting solar prices in Pakistan for 2024 even more difficult than usual. Be prepared for potential price volatility and possible short-term price increases. The crisis highlights the potential long-term role solar energy could play in Pakistan’s energy mix, and the government response will be crucial in shaping its affordability. 

Recommendations

Stay on top of news and market updates: Pay close attention to government policy announcements and updates on the energy crisis, as they will impact solar costs.

Don’t delay if feasible: If you’re seriously considering going solar, weigh the cost-benefit analysis now. Waiting could mean potentially higher prices due to increased demand. 

Support From Pakistani Government And Subsidies

The Pakistani government has introduced various incentives and subsidies to promote the adoption of solar panels and address energy challenges. Only recently, the newly-elected Chief Minister Punjab announced that solar panels will be provided in convenient installments for citizens consuming less than 300 units of electricity. The Sindh Solar Project, funded by The World Bank and inaugurated in 2023, aims to provide subsidized panels to around 200,000 houses in both rural and urban areas of 10 districts in the province. 

These initiatives reflect Pakistan’s commitment to transitioning towards sustainable energy sources like solar power, aiming to reduce carbon emissions, enhance energy security, and stimulate economic growth through renewable energy adoption. Here are some key points:

Subsidized Solar Panels: The government is offering subsidized solar panels to households, aiming to save 50-80% on electricity bills. By providing accessible installment plans and subsidies, solar panels are becoming more affordable and widely adopted in Pakistan.

Government Policies: The government has implemented policies like net metering and feed-in tariffs to encourage solar energy adoption. Net metering allows individuals to feed excess electricity back into the grid, leading to cost savings. Feed-in tariffs guarantee a fixed price for solar electricity generated, making solar projects financially viable.

Financial Incentives: The government is providing tax reductions, subsidies, and interest-free loans for businesses and individuals to install solar panels. These incentives aim to promote a renewable energy future and make solar systems more accessible.

Employment Opportunities: Embracing solar energy adoption not only reduces strain on the national grid but also fosters the development of the local solar industry. Incentives for manufacturing, installation, and maintenance of solar panels create employment opportunities and drive economic growth within the renewable energy sector.

Future Prospects: With supportive government policies, increased foreign investment, and technological advancements, solar energy has the potential to revolutionize Pakistan’s power generation sector. The government is working on a new 25-year energy policy aiming for 20-30% of all energy from renewable sources by 2030.

Financing Options For Solar Installations

Pakistan offers various financing options to facilitate the installation of solar panels, making renewable energy more accessible to the general public. These options have the potential to play a crucial role in promoting the adoption of solar energy in Pakistan by making solar panel installations more affordable and accessible to a broader segment of the population.

Flexible Monthly Installments: The State Bank of Pakistan has introduced a Solar Financing scheme that offers flexible monthly installments at a nominal mark-up rate of 6% per annum. This initiative enables a larger segment of the population to embrace solar energy solutions, accelerating the transition towards clean and sustainable energy sources in Pakistan.

Sharia-Compliant Installment Plans: Several private banks in Pakistan, including Meezan Bank, offer Sharia-compliant installment plans for financing solar panels. These initiatives provide interest-free loans for businesses and individuals to install solar panels, making renewable energy solutions more financially viable.

JS Bank Solar Panel Financing Program: JS Bank offers financing for residential projects ranging from Rs 300,000 to $20 million, depending on the size of the project. The program requires a minimum equity payment of 25% down plus a mark-up rate of 3-5% applied annually after approval. JS Bank aims to make solar panel financing accessible and affordable for a wide range of consumers.

Bank of Punjab Solar Home Scheme: The Bank of Punjab has initiated the “BOP Solar Home” program under the State Bank of Pakistan’s solar financing program. This scheme provides financial assistance and opportunities for homeowners to install solar panels. To qualify for a loan under this program, applicants need to fulfill specific criteria such as providing proof of ownership and active tax payer status.

Important Note: Besides these, additional factors like logistics costs, regional differences within Pakistan, and unforeseen global economic or political events could also play a role in influencing solar panel prices in 2024.