Solar panel prices increase by thousands of rupees

LAHORE: Even before the federal budget is presented, worrisome news has come to light for consumers associated with the solar energy sector.

According to market reports, the price of solar panels per plate has increased by 7,000 to 9,000 rupees in the last few days, which has increased the problems of domestic and commercial consumers.

After the increase in prices, a 585-watt solar panel, which was previously available for about 18,000 rupees, is now being sold for up to 27,000 rupees.

Traders associated with the solar market say that prices are increasing due to possible taxes, changes in import policies and uncertainty in the market before the budget. However, no official announcement has been made in this regard yet.

On the other hand, consumers planning to install solar systems expressed concern over the sudden increase in prices, saying that solar energy had become an effective alternative to avoid rising electricity prices, but the recent increase in prices is making the project expensive.

Experts say that if this trend in prices continues, the pace of development of renewable energy may be affected, favorable policies should be introduced for the solar sector so that the public can get the facility of affordable and environmentally friendly energy.

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It should be noted that in recent years, Pakistan has seen a significant increase in the demand for solar energy, the main reason for which is high electricity prices and load shedding problems.