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Impact of Increasing Electricity Cost On Solar Solution Feasibility

by | Jul 2, 2022 | Insights | 0 comments

Electricity prices in Pakistan are on a constant hike, and switching to solar is making more and more sense every passing day. With extremely high inflation and limited reserves left, the rates of electricity are likely to increase even more in the near future.

What makes the matter even more critical is the fact that Pakistan produces most of its electricity from natural gas, and with no effective supplier contracts or alternative electricity generation strategies, further price hikes are inevitable. This means that the country is currently headed towards possible its worst power crisis in its history.

What This Means

1. Load Shedding Will Return And this time, it will be much worse. The government has warned that with no LNG suppliers on-board, the government will be unable to fulfil the local demand. Leading to extreme load shedding in the future.

2. Your Bills Will Increase Historically, electricity prices have increased by 10% to 15% every year in Pakistan. With no alternative strategies and suppliers, coupled with rising oil and gas prices, the government will be forced to generate electricity at a much higher cost. This means that your bills will ultimately increase.

Switching To Solar Is Your Best Choice

With the electricity rates skyrocketing, now is perhaps the best time to go solar. By investing in a solar system today, you would not only secure your future but also lock in the lowest electricity rates for the rest of your life.

While it is true that the initial cost of going solar might sound somewhat high. Our customers in the past have been able to recover their investments within 3 to 5 years. And with electricity prices going up every day, this recovery period will only get shorter. The best part? Sympl Energy has partnered with multiple banks to offer you easy installment plans for your solar projects!

So, would you prefer 5 years over a lifetime of comfort? The choice is yours.