Solar panel prices have increased in Karachi even before the announcement of the new fiscal year’s budget, amid reports that the government has proposed raising GST on solar panels from 10% to 18%.
According to market details, the price of each solar panel has gone up by Rs7,000 to Rs9,000, while inverter prices are also expected to rise.
Solar panels have become costlier in Karachi ahead of the federal budget. Prices had already increased before the proposed tax change was formally announced.
The budget proposal under discussion seeks to increase the GST rate on solar panels from 10% to 18%.
New solar panel prices
According to market figures, a 585-watt solar panel plate has increased from Rs18,000 to Rs27,000. The price of a 645-watt plate has gone up from Rs22,000 to Rs31,200.
Similarly, a 720-watt plate has increased from Rs25,000 to Rs33,500. Traders also expect inverter prices to increase in the coming days.
Solar users may get special scheme
Alongside the price increase, a special scheme is being considered for people generating electricity through solar energy in the next fiscal year.
The proposal involves providing electricity credit in cities through solar panels installed on village land. The scheme is aimed at people living in urban areas who do not own land in cities but may have access to land in villages.
Rawalpindi Chamber of Commerce and Industry President Usman Shaukat discussed the proposal during a media interaction. He said the wheeling policy for generating electricity through solar energy was discussed in a meeting with Prime Minister Shehbaz Sharif.
According to Shaukat, the scheme would allow people without land in cities to benefit from solar energy generated on village land.
Flat owners may benefit
Under the proposed arrangement, flat owners living in cities would be able to install solar panels in their villages and receive solar credit for their city flats.
Shaukat said Prime Minister Shehbaz Sharif has directed authorities to prepare such a scheme. He added that a wheeling policy would be developed to promote solar energy across the country.
Wheeling policy seen as economic support
The Rawalpindi Chamber president said solar wheeling is considered an important facility in major cities around the world. He said introducing this facility in Pakistan would benefit the economy and help promote the use of renewable energy.
If implemented, the policy could provide relief to urban consumers while encouraging wider adoption of solar power despite rising equipment prices.
