ISLAMABAD: Despite the increasing trend towards solar energy for consumers worried about rising electricity bills, the prices of solar panels and related equipment have recorded a significant increase.
According to market sources, after the news of new taxes on solar panels in the budget, there has been a sudden increase in prices in the market. The panels, which were previously available at a relatively low price, are now being sold for Rs 26,000 to Rs 32,000. Similarly, the prices of inverters have also been recorded to increase by Rs 20,000, while small solar systems of 1 to 3 kW have also become more expensive by Rs 5 to 10,000.
It has been further reported that the price of a 5 kW lithium battery has reached about Rs 260,000, which has increased the cost of the overall solar system. A proposal to increase the general sales tax on solar panels from 10% to 18% is under consideration at the government level, which has created uncertainty in the market.
According to dealers, a 10% tax is already imposed on the import of panels, but prices are increasing due to fears of further taxes. According to experts, the rising prices of solar systems have further increased the financial pressure on the middle class, which is shifting towards alternative energy, which is also feared to affect the trend of clean energy.
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