Solar panel prices have plummeted by an impressive 60%, leading to substantial savings for consumers in the solar energy market.
The cost of a 550-watt solar panel has decreased from 70,000 to 27,000 rupees, marking a significant reduction of 43,000 rupees. Similarly, the 450-watt variant is now available at 24,000 rupees, and the 330-watt option is priced at 20,000 rupees, both experiencing increased demand.
Traders attribute this sudden price decline to the liberalization of imports and tax relief, which have intensified market competition and lowered overall costs.
This trend is not limited to a specific region, as a global decrease in solar panel prices has been observed. Warehouses in Europe and America, stocked with surplus solar panels, have triggered a widespread reduction in prices worldwide, with costs continuing to steadily decrease.
This development underscores the positive impact on the accessibility of solar energy solutions for consumers. As a result, more individuals are finding solar energy solutions more affordable and are likely to consider transitioning to solar power for their energy needs, potentially contributing to a broader adoption of renewable energy sources.
