Chinese Solar Panels Drop to 12 Cents a Watt, Rooftop Installs Surge Worldwide
Chinese-made photovoltaic panels cost 12 cents a watt in 2026, down from $5-$6 at the turn of the millennium, and that price collapse is now powering rooftop solar installations from Pakistani cement plants to Philippine homes and Australian suburbs, according to the Financial Times. A Pakistani cement giant has cut its power costs by up to 40% with solar at its production sites, and rooftop…
In 2026, Chinese-made photovoltaic panels cost just 12 cents per watt, down from a range of $5 to $6 a decade ago. This dramatic price decrease is driving a surge in rooftop solar installations worldwide, from cement plants in Pakistan to homes in the Philippines and suburbs in Australia, according to the Financial Times.
A Pakistani cement giant, Bestway Cement Limited, has slashed its power costs by up to 40% by installing solar at its production sites. The Chakwal plant, for instance, generates over a quarter of its electricity using 26 MW of installed photovoltaic capacity. Abdul Waheed, Group Managing Director at the Chakwal plant, explains that this shift is necessary to compete with rivals who have already transitioned to solar power.
In the Philippines, rooftop solar capacity nearly doubled in the past year, with residential solar panels paying for themselves within three years. Meralco, the country's electricity distributor, reports that rooftop solar generated 372 gigawatt hours in the first half of 2026 alone. Africa is also poised to install record-gigawatt amounts of solar, with 45% year-over-year growth, primarily due to distributed solar systems on commercial and industrial rooftops.
India is on track to become the first country to industrialize using solar energy, replacing fossil fuels like coal and oil. The country added a record 44 GW of solar power last year, bringing its installed solar capacity to 154 gigawatts and projecting that solar will meet half of its electricity demand growth through 2030. India's rooftop solar program, launched in February 2024, has installed panels on over 5.5 million homes, with the government promising to provide Central Financial Assistance and low-interest loans to lower-income families.
While the growth in solar adoption is strongest in developing nations, developed countries are also reaping the benefits. Australia currently leads the world in rooftop solar adoption, with 4.3 million homes and businesses utilizing solar panels, equivalent to 43% of total installations. This high level of solar adoption has led to grid instabilities in Australia, while plug-and-play solar systems are gaining popularity in Europe, allowing users to generate electricity by simply plugging a microinverter into a standard household wall socket.
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