In an unexpected development, solar panel prices in Pakistan have surged by Rs. 8/Watt just days before the federal budget for 2024–25 is set to be unveiled.
This sudden increase comes as dealers anticipate new taxes on the solar sector in the upcoming budget, scheduled for presentation on Wednesday, June 12, 2024.
As of June 2024, a 588W solar panel now costs between Rs. 4,000-5,000, while a 180W panel is priced at Rs. 1,440.
The most significant price hikes have been observed in smaller panels, ranging from 180-280W, reflecting the highest increase in rates this month.
In addition to tax concerns, prices have also risen due to speculation that the federal government is planning significant amendments to the Net Metering Regulations.
These changes could potentially eliminate the current net metering system and replace it with a gross metering system, discouraging solar usage and pushing consumers back towards expensive grid electricity.
Last week, reports surfaced that Prime Minister Shehbaz Sharif had ordered the termination of solar net metering in Pakistan, along with the imposition of fixed charges on households installing solar systems. However, the Power Division has denied these claims.
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