Solar Panel Prices in Pakistan Surge Ahead of Budget 2024-2025

Pakistan’s solar panel prices is experiencing a significant surge ahead of the Budget 2024-2025 announcement, slated for June 12. Traders are proactively adjusting rates in anticipation of new tax measures, as the government negotiates a fresh bailout package with the International Monetary Fund (IMF).

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Sources close to the matter reveal that additional taxes on solar panels are being considered, prompting traders to hike prices preemptively. This development has resulted in a uniform price increase of Rs8 per watt across various panel sizes and specifications.

As of June 2024, the updated prices for solar panels are as follows: 1 Watt: Rs8, 588 Watt Plate: Rs4,000-Rs5,000, 180 Watt Panel: Rs1,440. Consumers are now facing a substantial price jump, with smaller panels ranging from 180 to 280 watts now priced between Rs1,000 and Rs1,500.

This development may impact the adoption of renewable energy sources in Pakistan, which has been a key focus area for the government in recent years.