In recent news, solar panel prices have dropped to record lows, with further decreases expected soon. Countries like those in Europe are now repurposing solar panels for innovative uses. For instance, in the Netherlands and Germany, some are being used as garden fences.
Social media platforms are buzzing with photos of this trend, showcasing the shift to using solar panels in unconventional ways. This is largely due to the high costs of traditional rooftop installations. The price drop stems from increased production by Chinese companies, flooding the global market and making it hard for US and European manufacturers to compete.
The International Energy Agency predicts global solar panel supply will triple by the year’s end, surpassing current demand. In 2023, spot market prices already halved, and by 2028, they are expected to drop another 40 percent.
In Pakistan, solar panel prices have also fallen, making solar power more accessible. Panels for systems between seven to 15 kilowatts are now available for as low as Rs 200,000, prompting a shift towards renewable energy.
As the world moves toward a greener future, falling solar panel prices present new opportunities for sustainable energy solutions. With further price reductions on the horizon, the future of solar energy looks even brighter.