The price of solar panels has come down by Rs 2 per watt after the revised policy. While the overall cost of installing a solar system has also come down, prices have come down from Rs 35,000 to Rs 200,000 depending on the capacity of the system.
The new market price of a 5 kW solar system has been set at around half a million, while a 7 kW system is now available for Rs 6.5 lakh.
A 10 kW solar setup costs over Rs 8 lakh, while if you go for 15 kW, it will cost you around Rs 1.2 million. These prices apply to on-grid systems. However, for hybrid systems, consumers will need to pay extra for the batteries required to store energy.
| System Capacity | Price |
|---|---|
| 5 kW | Rs5-5.25 Lac |
| 7 kW | Rs6.25-6.50Lac |
| 10 kW | Rs8.25- 8.50 Lac |
| 12 kW | Rs9.75 Lac to 10Lac |
| 15 kW | Rs11 Lac-12Lac |
The federal government’s adjustment to the net metering policy is expected to encourage the use of solar power, making it a more attractive and economical option for households and businesses. The move is in line with the government’s push to promote renewable energy and reduce dependence on conventional sources of electricity.