Lithium Battery prices for solar systems fall by up to Rs100,000

Prices of lithium batteries used in solar energy systems have declined in the local market, with reductions ranging from Rs20,000 to Rs100,000, according to market sources.

The price cuts have been reported for batteries used in on-grid, hybrid and off-grid solar systems, providing some relief to consumers planning to install solar power systems.

According to market sources, the price of a 5kW lithium battery has fallen from Rs250,000 to Rs230,000, a reduction of Rs20,000.

Similarly, the price of a 16kW lithium battery has dropped from Rs750,000 to Rs650,000, marking a reduction of Rs100,000.

The decline comes as more consumers are turning towards off-grid solar systems following changes to the net metering policy.

Demand for solar systems has also increased amid falling prices of solar panels and lithium batteries in the local market.

Lower battery prices could reduce the overall cost of solar installations for consumers seeking alternatives to conventional electricity and greater reliance on solar power.