maximise its benefits, news sources report that solar panels are usually mounted on roofs. On the other hand, there are so many panels installed in various European nations that many are thinking of using solar panels for fencing.
The report claims that the rise in solar panel production by Chinese enterprises for the international market is the cause of the decline in solar panel prices. The market has outgrown China’s hegemony due to the excess supply of solar panels, making it impossible for American and European manufacturers to compete.
By the end of this year, the International Energy Agency predicts that the world’s supply of solar panels would surpass demand by a factor of three.
According to the agency, spot market prices have already decreased by half, and by 2028, there may be a further 40% drop in price.
Although the cost of solar panels has decreased globally, there has also been a discernible drop in Pakistan. The cost of the solar panels that are used to create electricity dropped last year as well.
Currently, a 7 to 15 kilowatt system costs only two hundred thousand rupees in the market. Solar panel buyers and sellers claim that a number of variables are to blame for the current situation and that prices will continue to drop for some time.
