Solar Panel Prices in Pakistan Spikes Pre Budget 2024-25

Islamabad: “Recently, Pakistanis have seen Solar Panel price in Pakistan spikes unexpectedly. In anticipation of the proposals in the upcoming Budget 2024-2025, Solar Panel traders have increased prices. According to reports, the price of solar panels has gone up by 8 rupees per watt. This increase is not limited to large solar panels but also affects smaller panels, ranging from 180 to 280 watts, with prices rising by 1000 to 1500 rupees.

The primary reason behind this price hike is the expected imposition of taxation in the budget, which is set to be presented on June 12. Additionally, the growing uncertainty in the market has led traders to resort to hoarding.

This situation raises the question: will the average middle-class person be able to afford solar panels after this price increase, or will they become a luxury item? While the price hike poses a challenge for consumers, budget-related reports circulating in the market indicate that the government plans to incentivize solar panels by removing custom duties. If this happens, solar panels will become more affordable for a larger number of people.

Solar energy experts believe that the government’s initiative will not only benefit domestic consumers but also increase the use of solar energy in the industrial sector, helping to meet the country’s energy needs.

Currently, there is a buzz in Pakistan regarding solar panels and their prices. Whether solar energy will progress in the country, and if the government will subsidize it or remove it from the tax bracket, will all be decided in the budget on June 12, 2024.