Prices for solar panel systems, ranging from 5KW to 15KW, increased today by Rs 100,000 to Rs 200,000. The rise is attributed to higher costs for on-grid components and battery additions in hybrid systems.
The price for a 5KW solar system now stands at Rs 750,000, reflecting a Rs 100,000 increase. A 7KW system has risen by Rs 150,000, bringing its price to Rs 850,000.
Larger systems have seen even bigger hikes, with the 10KW system now costing Rs 1,150,000 after a Rs 200,000 increase. The 12KW system is up by Rs 150,000 to Rs 1,250,000, while the 15KW setup is now priced at Rs 1,400,000.
Experts say that the demand for hybrid systems, which include batteries for storing energy, has contributed to these price jumps. Batteries are essential in hybrid systems, helping users manage power during outages or low-sunlight periods.
Despite the increases, analysts believe solar energy remains a strong investment due to its long-term cost-saving benefits and environmental advantages.