Solar panel prices, which had been on a steady decline, are now predicted to either stabilise or rise, as a sharp drop in imports signals potential supply issues in the coming months. Market experts are monitoring the situation closely, following a significant downturn in imports after a previous surge driven by falling prices.
In September 2024, solar panel imports in Pakistan fell to 1,010MW, a sharp 63% drop from the 2,762MW imported in April. This downward trend continued in August, with imports recorded at 1,121MW. The sudden decline in import volumes is attributed to delays in shipments and ongoing logistical challenges.
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As a result, current stock levels are largely made up of leftover inventory from earlier purchases. While no immediate price hikes are expected, experts warn that as stocks deplete, prices could rise if supply chain disruptions persist.
Earlier this year, the decline in prices triggered a wave of imports, particularly among domestic, commercial, and industrial buyers seeking to mitigate rising electricity costs through renewable energy options.
However, with import volumes shrinking, the available stock could be exhausted in a matter of months. This raises concerns about future shortages, longer waiting periods for new shipments, and potential price increases.
Industry analysts suggest that the days of steep price drops are over, with current prices seen as the lowest they will go, due to dwindling availability.
