Pakistan Becomes World’s Largest Importer of Solar Panels Amid Rising Electricity Costs

Islamabad:Faced with soaring electricity bills, Pakistani households, industries, and small businesses are increasingly turning to solar energy. This growing demand has catapulted Pakistan to the **top of the global list of solar panel importers**, with **17 gigawatts worth of solar panels** imported in 2024 alone.

According to experts, the surge in solar adoption across the country is driven by affordability, improved technology, and the need for reliable alternative energy sources amid power shortages and tariff hikes.

### Solar Panel Prices Drop Sharply

**Waqas Haroon**, a representative of the **Pakistan Solar Association**, said that the cost of solar panels has **significantly dropped** over the last decade. In 2014, the price was **$1 per watt** (approximately PKR 105 at the time), and quality standards were much lower. Today, premium-quality solar panels are available for as low as **PKR 35 per watt**, with mid-range options priced around **PKR 30 per watt**.

Haroon explained that during the COVID-19 pandemic, global solar panel prices began to decline, and now Pakistan’s market offers panels even **cheaper than in China**, thanks to **massive imports** and existing surplus stock.

### A Decade of Falling Prices

**Nisar Ahmed**, head of the **Renewable Energy Association** and owner of **Solar Sigma**, traced the price drop over the past 15 years:
– **2010**: PKR 200 per watt
– **2012**: PKR 120 per watt
– **2016**: PKR 80 per watt
– **2018**: PKR 40 per watt
– **2020**: Spiked back to PKR 100 per watt due to import bans
– **2024**: Stabilized at **PKR 30–35 per watt**

He added that post-COVID, imports resumed rapidly, resulting in an **oversupply**, which further drove down prices.

### What’s Next?

Despite recent price hikes in China, local experts believe **Pakistan may not see immediate increases**, thanks to its large stockpile of imported solar panels. However, fluctuations in global supply chains could eventually impact the domestic market.

With Pakistan now leading in solar panel imports and offering some of the most competitive rates globally, experts see this as a **golden opportunity** for the country to advance its renewable energy goals — especially in a region battling climate change and energy insecurity.