After solar panels, the prices of solar inverters and lithium batteries have also recorded a significant increase, making it seem that installing a solar system has now become a distant dream.
According to details, in anticipation of possible additional taxes on solar panels in the upcoming federal budget, prices of solar systems and related equipment have surged across markets nationwide.
Solar market dealers say that although a 10% tax is already imposed on panel imports, prices were increased by up to Rs4,000 per panel even before the new budget, due to fears of further taxation.
As a result, 585W, 645W, and 720W panels are now being sold in the market at high prices ranging from Rs26,000 to Rs32,000.
Market sources further said that prices of solar inverters have also increased by up to Rs20,000.
For small consumers, 1kW to 3kW inverters have become Rs5,000 to Rs10,000 more expensive.
On the other hand, due to rising heat and load-shedding, demand for lithium batteries increased, and profiteers have raised their prices by up to Rs20,000 in a single jump.
At present, a 5kW lithium battery is being sold at around Rs260,000, further increasing the financial burden on the middle class shifting towards alternative energy sources.
Also Read: Solar panels witness masssive price surge ahead of budget
