ISLAMABAD: Prices of solar panels in Pakistan have increased sharply ahead of the upcoming federal budget, with a noticeable upward trend emerging in the solar industry.
According to market sources, the sudden rise in prices has raised concerns among consumers and potential investors considering solar energy installations.
Market data shows that prices of solar panels have increased by Rs7,000 to Rs9,000 per plate. A 585-watt solar panel, which was previously available at around Rs18,000, is now being sold for up to Rs27,000.
Similarly, the price of a 645-watt solar panel has increased from Rs22,000 to Rs31,200, while a 720-watt panel has risen from Rs25,000 to Rs33,500.
Market sources further warned that not only solar panels but also inverter prices are expected to increase in the coming days, adding further pressure on consumers in Pakistan’s renewable energy market.
Earlier, the prices of solar panel plates have been increased even before the budget for the new fiscal year.
According to market sources, the price of plates per solar plate has increased by 7 to 9 thousand rupees. A 585-watt plate has increased from 18 thousand to 27 thousand rupees.
In the market, a 645-watt plate has increased from 22 thousand to 31 thousand 200 rupees, while a 720-watt plate has increased from 25 thousand to 33 thousand 500 rupees. The price of the inverter is also expected to increase.
It should be noted that in the budget for the new fiscal year, it was proposed to increase the GST rate on solar panels from 10 to 18 percent, but the prices of solar panels in Karachi have already been increased.
