Solar panel prices increase ahead of upcoming budget

Solar panel prices in Pakistan have increased ahead of the upcoming federal budget, with market sources linking the surge to a proposed rise in General Sales Tax (GST) on solar products.

Traders say prices have jumped significantly across different categories, creating concern among consumers planning to shift towards solar energy. According to market reports, the price of each solar panel has increased by Rs7,000 to Rs9,000. A 585-watt panel, which earlier cost Rs18,000, is now being sold at Rs27,000.

Similarly, a 645-watt solar panel has risen to Rs31,200 from Rs22,000. The price of a 720-watt panel has also increased, moving from Rs25,000 to Rs33,500. Traders have also warned that inverter prices may increase in the coming days if the upward trend continues in the market.

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The price hike comes ahead of the federal budget, where a proposal has reportedly been made to increase GST on solar panels from 10 percent to 18 percent. Although the tax change has not yet been officially approved, market uncertainty has already pushed prices higher.

Consumers and small businesses are now facing pressure as solar energy systems become more expensive, reducing affordability for those planning to switch to renewable energy. Market experts say that even speculation about tax changes is enough to disturb pricing in the solar industry, which is already sensitive to policy shifts.