Price of Solar Panels Falling by 80%

Sun, Oct 21, 2012

Photovoltaics, Solar Power

Price of Solar Panels Falling by 80%

Managing Director Arif Allauddin from Alternative Energy Development Board (AEDB) notifies that the prices of solar panel have shown a downward slope in prices over the recent half decade. It has dropped down by 8o% in half decade making it attractive to customers.

This should be considered as an opportunity to switch to solar energy and to tackle the alarming issue of energy crisis. Allauddin also stressed on his word; in the International Exhibition and Conference on Alternative Energy and Energy Efficiency organized by the Renewable and Alternative Energy Association of Pakistan here on Saturday.

Presently, our country is generating power at Rs.20. per unit, therefore, encountering such intricacies, which cause crisis in the economy. Alladin remarked, “We can have more affordable solar applications with this positive reduction in price.”

He proposed that solar panel could benefit the citizens in the daytime despite the factor that they are expensive than battery.

Intellectual property organization (IPO) Hamidullah Jan Afridi urged the government to announce subsidies and consumer-friendly policies in favor of renewable-energy resources to overcome energy crisis.

The government has declared a tariff on wind power plants, but it has yet to declare tariffs on solar energy.

He spoke sadly about these two lacking and elucidated that residential upfront tariffs coupled with easy financing options are essential factors to develop renewable-energy culture.

He said, “We need to reckon how to make renewable-energy financing and financing for rural electrification available.”

He is also very optimistic as enforcing and encouraging customer with FITs (feed in tariffs) will give more financial grounds to support the growth of solar energy in the country and across the world.

There are diverse renewable sources that exist to ponder, including bio energy, waste to energy, and hydro power. The government has taken the initiative and rated zero to all the renewable-energy equipment and components.

Source: Tribune Pakistan

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RPN's contributed to this report.

Professional freelancer in Green Technology and Scientific Development. Educational background in the field of Human Resources Management.

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