Top News

Solar Panel Price: Here is an important update for those planning to install solar panels. The cost of solar projects could rise over the next 6–8 months. Find out why costs might increase.

Solar Panel Price Hike: Are you planning to install solar panels to significantly reduce your household electricity bill? If so, this news is relevant to you. Installing solar panels may become more expensive in the near future, which could directly impact the budgets of those planning the installation. Let’s look at the reasons behind this cost increase.

What is the reason for the cost increase?

The primary reason is the shift from using imported solar cells to domestic ones.
Modules using imported cells cost approximately ₹13.5 per watt.
In contrast, solar modules using domestic cells cost approximately ₹19 per watt.
Additionally, the prices of copper and aluminum—materials used in solar panels—have risen.
This, too, could impact the overall cost of solar systems.

What happens next?

Significantly, the future of renewable energy remains promising despite the rising costs of solar installations.
It is estimated that the share of renewable energy in India's power mix could rise from 22% in 2024–25 to over 35% by 2029–30.

How much could costs rise?

It is worth noting that, effective June 1, 2026, the use of domestic solar cells from companies listed under the ALMM (Approved List of Models and Manufacturers) has been made mandatory for solar projects. Regarding the cost hike, ICRA projects that solar project costs could increase by approximately 20% over the next 6–8 months.

Will this affect those installing solar panels?

The rise in costs could impact the budgets of individuals planning to install solar systems.
If you are planning to install solar panels, it is advisable not to rely on a single company. Be sure to check the rates offered by different companies.
Also, do not look solely at the price of the solar panel; consider the costs of the inverter and other associated expenses as well.
Avoid rushing into purchasing cheap or local panels.
Since solar panels are considered a long-term investment, make your decision carefully.