Rumors of an impending tax on solar panels in the upcoming federal budget have caused a significant spike in prices. The anticipation of taxation by the federal government has particularly affected those seeking affordable solar energy solutions. As a result, the cost per watt of solar panels has surged by 8 rupees.
Specifically, the price of 580-watt solar panels has risen from 45,000 to 50,000 rupees. Similarly, smaller panels, ranging from 180 to 280 watts, have also seen an increase of 1,000 to 1,500 rupees.
In response to these rumors, solar panel traders have begun stockpiling their inventory. By withholding stock, traders aim to sell their solar panels at higher prices once the new budget is announced, further straining consumers seeking cost-effective solar energy options.
The price hike underscores the sensitivity of the solar market to policy changes and speculations, impacting both consumers and the broader push towards renewable energy.
As the budget announcement approaches, the industry and consumers alike remain on edge, awaiting clarity on the potential taxation and its implications.
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