Solar Panel Prices Surge Ahead of Budget Announcement in Pakistan
Solar Panel Prices Surge Ahead of Budget Announcement in Pakistan
Just days before the federal budget 2024-25 is set to be presented, solar panel prices in Pakistan have experienced a sudden increase of Rs. 8 per Watt. This spike in prices comes as dealers anticipate new taxes being imposed on the solar sector in the upcoming budget.
The federal government is scheduled to reveal the new budget on Wednesday, June 12, 2024.
As of June 2024, the cost of a 588W solar panel has risen by Rs. 4,000-5,000, while a 180W panel now commands an additional Rs. 1,440. Notably, smaller panels ranging from 180-280W are witnessing the highest surge in rates this month.
This escalation in prices is also attributed to concerns that the federal government is considering significant amendments to Net Metering Regulations, possibly discontinuing the system altogether. There are speculations about replacing it with a gross metering system to dissuade solar usage and compel consumers to revert to grid electricity, which is notably more expensive.
Reports emerged last week suggesting that Prime Minister Shehbaz Sharif has instructed the discontinuation of solar net metering in Pakistan and the imposition of fixed charges on households utilizing solar systems. However, the Power Division has refuted these claims so far.
