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.
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