KARACHI – Solar panel prices in Karachi jumped sharply ahead of upcoming federal budget for FY2026–27, leaving many consumers and installers worried about rising costs of renewable energy systems.
Market sources report an overall increase of around Rs7500 to Rs9,000 per panel across key categories. 585-watt panel has surged to Rs27,000-28000, while 645-watt variant climbed to Rs31-32,000. 720-watt panel has also seen a steep rise, moving to around Rs 33,500.
Traders say the sudden price hike is being driven by uncertainty over the upcoming budget, where authorities are reportedly considering increasing GST on imported solar panels from 10% to 18%. Even before any official decision, the speculation alone has triggered early price adjustments in the market.
Many dealers have already started factoring in the expected tax increase, effectively passing the anticipated burden onto buyers in advance. As a result, customers planning to shift to solar energy are now facing higher upfront costs and fewer affordable options.
Industry insiders also warn that inverter prices may soon follow the same upward trend, adding further pressure on household and commercial solar installations.
With prices climbing quickly and policy uncertainty growing, the solar market in Karachi appears to be entering a volatile phase just days before the new budget announcement.
Pakistan may see higher prices for electric vehicles and solar systems in the upcoming fiscal year as the government considers new tax measures under the Budget 2026–27, in line with IMF recommendations. IMF is pushing for fewer tax exemptions and a broader tax base, leading to proposals under review that could increase costs for green technologies.
Imported solar panels are also under consideration for an increase in GST from 10% to 18%. If approved, these changes would significantly raise prices across EVs and solar installations, potentially slowing the adoption of clean energy solutions in the country.
