Solar panel prices increase in Pakistan just days before the federal budget for 2024-25 is set to be presented. The sudden rise has raised concerns among consumers and industry stakeholders alike, as they brace for potential new taxes and regulatory changes.
Solar Panel Prices Increase in Pakistan as Budget Day Approaches
In anticipation of the federal budget announcement on June 12, 2024, the cost of solar panels in Pakistan has surged by Rs. 8/Watt. Dealers across the country are preparing for expected new taxes that could impact the solar sector significantly. The spike in prices is particularly noticeable in smaller panels, with a 588W plate now priced between Rs. 4,000 and Rs. 5,000, and a 180W panel costing Rs. 1,440. Panels in the range of 180-280W have experienced the highest rate hikes this month, reflecting the market’s anxiety over imminent fiscal policies.
Market Reactions and Government’s Stance
The increase in solar panel prices comes amid speculation that the federal government may introduce substantial amendments to the Net Metering Regulations. There are fears that the government might replace the current system with a gross metering system, which could discourage the use of solar energy and push consumers back towards the expensive grid electricity. Despite these concerns, the Power Division has denied any plans to end solar net metering. Last week, Prime Minister Shehbaz Sharif was reported to have ordered the cessation of solar net metering and the imposition of fixed charges on households installing solar systems, this has further fueled the market’s apprehensions, leading to a preemptive hike in solar panel prices.
As the budget presentation draws near, the solar industry and consumers remain on edge, awaiting definitive policies that will shape the future of solar energy in Pakistan.
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