Advertisement
Categories: BusinessNews

Solar Panel Prices Surge in Pakistan Ahead of Summer

Advertisement

As Pakistan braces for the summer season, a surge in demand for solar panels has led to a significant increase in prices, placing financial strain on consumers nationwide.

Reports indicate that the cost of solar panels has soared from Rs75,000 to Rs300,000, reflecting a substantial hike in a short period.

For instance, a seven-kilowatt solar panel system, previously priced at Rs850,000, has now surpassed Rs920,000. Similarly, a 10-kilowatt system has surged from Rs1.1 million to Rs1.25 million, while a 12-kilowatt system now commands Rs1.6 million, up from Rs1.4 million. Additionally, a 15-kilowatt system has seen a Rs300,000 increase, now standing at Rs1.8 million.

The sharp rise in prices particularly impacts grid-connected solar panel systems, with consumers facing extra expenses for hybrid setups incorporating batteries for energy storage.

Read also: OGRA Raises Gas Tariffs by 35% Amid IMF Pressure

These escalating costs are adding financial pressure, especially on participants of the federal government’s net metering project, aimed at encouraging solar energy adoption by allowing consumers to sell excess electricity generated back to the grid.

Experts attribute the fluctuations in prices to economic factors, including occasional political instability. Brand reputation, efficiency rating, capacity, and installation requirements also contribute to rising costs.

Advertisement
Zayn

Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

Recent Posts

Sindh Approves First Transgender Education Policy Draft

Sindh’s Education Minister Syed Sardar Ali Shah has approved a draft of Pakistan’s first-ever Transgender…

1 day ago

Biden and Trump Meet in White House, Pledge Smooth Transition of Power

In a historic and cordial Oval Office meeting, President Joe Biden and President-elect Donald Trump,…

1 day ago

Meta supports Pakistani creators in Karachi to inspire a new wave of content

Meta connected with content creators in Karachi through various engagements starting with an event on…

1 day ago

SNGPL Announces Winter Gas Schedule

Sui Northern Gas Pipelines Limited (SNGPL) has introduced a revised winter gas supply schedule, aiming…

1 day ago

Mayor Proposes High-Rise in Slums to Improve Karachi’s Infrastructure

Mayor Barrister Murtaza Wahab, during a visit to the (Association of Builders and Developers) ABAD…

1 day ago

Spotify Reports Strong Financial Growth with 19% Revenue Surge

Last night, Spotify released its Q3 2024 earnings, continuing to showcase its strong performance as…

1 day ago