Muhammad Saleem

The solar panels business is transforming the local markets, causing a slump in prices despite high inflation, reports WealthPK. The demand for solar panels is high; however, the traders are reluctant to import the traditional panels due to the introduction of new solar technology – paper panels. Muhammad Idrees, a solar panel technician, told WealthPK that the unpredictable market trend had slowed down the business, as the buyers were waiting for a further slump in prices. He said despite high inflation, the panel prices were on a downward trend. The new technology offered by some people importing panels from China and other countries is getting popular with the buyers, as the current panels cover the entire roof, unlike the new ones. He believes paper panels are an excellent alternative that will not cover the entire roof. Consumers have to spend a substantial amount on traditional panels, installation, and steel stands. However, the paper panels or standing panels will save such costs, he claimed.

Haji Ahmed Ali, a solar panel dealer, told WealthPK that the solar systems were efficiently transforming the energy landscape of Pakistan. The abundance of sunlight is a blessing for the people of Pakistan and we have to tap this potential by investing in the solar technology, he said. "As a trader, we are doing a good business despite inflation because you cannot live without electricity, particularly in the simmering summer. However, these days, we are not importing the traditional panels, as the paper panels will soon hit the market," he claimed.  "It's true that new solar technologies are being introduced globally, but the reason for a decline in prices is the increased production," Ahmed said. He said scores of manufacturers had started producing panels, causing a significant increase in the production capacity. Besides, he said technological advancement was also playing a crucial role in the price slump.

"People now need efficient and affordable panels," he said, adding that the foreign manufacturers were benefitting from the energy crisis in Pakistan and earning a lot by supplying solar panels to Pakistan. Talking to WealthPK, Dr Muhammad Irfan said he recently spent a hefty amount on the installation of solar panels. "I only did it to facilitate the government which is grappling with different issues, particularly on the energy and economic front. However, rumors are rife that the government is going to screw those not connected with the national transmission system. He felt it was an unfair approach to facilitating the exploiters. Dr Irfan said people had wasted billions of rupees seeking alternative energy sources. Elaborating his claim, he said people invested in generators, solar systems, UPSes, chargeable gadgets, energy-saving tools etc.

It is the prime duty of rulers to ensure an affordable and smooth supply of electricity, but they failed to fulfill their responsibility effectively, he added. Kamal Ahmed, a technician, said it's a good sign that the rates of solar panels were declining but it was all due to the foreign manufacturers who were introducing a new technology. He said the government should establish solar panel manufacturing factories in smaller cities. This approach, he argued, would ensure quality, quantity and affordable prices. Such factories would also create hundreds of jobs for the locals, he added.  "We have to find ways to reduce reliance on the imported panels; otherwise, the capital will continue to flow out of Pakistan," he warned. The Punjab government is promoting the solar energy system, but the question is how it will fulfill the local requirements, he asked.

Credit: INP-WealthPk