The cost of solar panel systems has seen a steep increase across Pakistan, with prices rising by Rs100,000 to Rs200,000 for systems ranging from 5KW to 15KW, according to sources.
Currently, a 5KW solar panel system is now priced at Rs750,000, reflecting an increase of Rs100,000. The 7KW system saw a rise of Rs150,000, now priced at Rs850,000.
Meanwhile, a 10KW solar system has surged by Rs200,000, bringing its cost to Rs11,50,000. The price hike continues for larger systems: a 12KW solar setup is now available at Rs12,50,000, up by Rs150,000, and the 15KW system costs Rs14,00,000 after a similar increase.
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Industry insiders attribute these sharp price jumps to higher costs associated with on-grid systems. They highlighted that the additional charges for batteries, essential for hybrid systems, have contributed to the overall price surge.
The demand for solar energy is climbing due to frequent power outages and rising electricity costs, making this price increase a significant burden for households and businesses looking to adopt sustainable energy solutions.
It is pertinent to mention that just a few weeks ago, the prices of solar panel dropped to the lowest level in the history of this business in Pakistan. The per Watt priced to Rs. 30-32 due to excess supply in the local market and a downward trend in international rates.
