Solar panel prices jump ahead of budget

Prior to the unveiling of the 2024-2025 budget in Pakistan, there has been a noticeable surge in solar panel prices, attributed to traders adjusting their rates in anticipation of upcoming tax changes.

According to reports, the government, aligning with IMF conditions amid bailout negotiations, is reportedly considering imposing additional taxes on solar panels.

This speculation has led traders to proactively raise prices, resulting in an increase of Rs8 per watt across various panel sizes and specifications.

As of June 2024, the new prices for solar panels are as follows:

1 Watt: Rs8

588 Watt Plate: Rs4,000 to Rs5,000

180 Watt Panel: Rs1,440

Consequently, consumers now face higher prices, with a significant jump observed particularly for larger panels such as the 588-watt plate, which previously saw an increase of Rs3,000 to Rs4,000.

Smaller panels ranging from 180 to 280 watts are now priced between Rs1,000 and Rs1,500.