Adil Mehmood, the former president of the Sheikhupura Chamber of Commerce & Industry, discussed the surge in solar power system installations across the nation. He attributed this increase to the affordability of imported solar panels, leading consumers to adopt solar solutions to reduce their high electricity bills.
Mehmood observed that solar panel dealers are significantly busier this year compared to last, while those dealing in power generators and Uninterrupted Power Supply (UPS) systems are experiencing a decline in demand. A few years ago, UPS systems were highly popular due to lower battery prices.
Additionally, the corporate sector, industries, educational institutions, and petrol stations are also transitioning to solar systems to cut overhead costs. In 2023, solar panel imports reached 4,000 gigawatts (GW), a figure that has already been surpassed within a few months. While consumers are benefiting from lower panel costs, they are still waiting for a decrease in battery and inverter prices, which would further facilitate the adoption of solar power systems.
However, Mehmood expressed concern about a potential rise in inverter prices due to a 30-40 percent increase in their valuation. This could pose challenges for the solar industry and those planning to switch to solar systems.
He welcomed the Punjab government’s announcement to provide solar panels to the public on Independence Day and urged the government to promote solarization by offering incentives or soft loans to individuals and industries. Supporting the industrial sector’s transition to solar power could lead to significant growth. Mehmood emphasized the need for government assistance and a reduction in inverter valuations to achieve these objectives.
