Web Desk: Solar panel prices have started witnessing a record increase in the city’s market.
According to market sources, prices of solar systems ranging from 5kW to 15kW have increased by Rs150,000 to Rs200,000.
After an increase of Rs150,000, the price of a 5kW solar system has been fixed at Rs650,000. The price of a 7kW system has reached Rs825,000 following an increase of Rs200,000.
Similarly, the price of a 10kW solar system has risen from Rs900,000 to Rs1.1 million, while the price of a 12kW system has been recorded at Rs1.25 million after an increase of Rs200,000.
The price of a 15kW solar system has also increased to Rs1.45 million, compared to around Rs1.3 million previously.
It is worth mentioning that these prices apply to on-grid solar systems. Consumers opting for off-grid systems will have to pay separately for batteries.
Following the recent price hike, concerns are growing among consumers who were considering switching to solar energy.
Solar panel dealers attribute the price hike to uncertainty surrounding possible budgetary measures and growing demand for solar solutions. Industry stakeholders have grave apprehensions that any additional taxes or policy changes could further raise installation costs and slow the momentum of solar adoption in the country.
Also Read: Solar panels witness record drop in prices
