Prices of solar panel plates have increased even before the new financial year budget.
According to market sources, the price of each solar plate has increased by Rs7,000 to Rs9,000.
A 585-watt plate, which was earlier priced at Rs18,000, has now increased to Rs27,000.
In the market, the 645-watt plate has increased from Rs22,000 to Rs31,200, while the 720-watt plate has increased from Rs25,000 to Rs33,500. There are also concerns that inverter prices may increase as well.
It is worth noting that in the new financial year budget, a proposal was made to increase GST on solar panels from 10% to 18%, but prices in Karachi have already started increasing.
The sudden increase in prices has left pressure on those customers who are already turning to solar energy due to high electricity costs. Many buyers say the escalating cost of solar plates could affect the adoption of renewable energy systems among households and small businesses.
Market dealers warn that if the proposed tax changes are approved in the upcoming budget, the overall cost of solar installations go beyond the reach of common man. This could impact both dealers and consumers across the country, making solar energy less affordable for a wider section of consumers.
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