Refrigerators and ceiling fans might cost up to 12% more, or possibly up to 20% more for 5-star rated products, after the Bureau of Energy Efficiency (BEE) amended criteria took effect on January 1, 2023. For the first time in the country, ceiling fans are now subject to the nation’s mandated star labelling laws.
According to the updated BEE requirements, energy efficiency would be further tightened “to achieve worldwide standards and efficiencies in terms of units consumption.” Prices of products could increase by 2–3% depending on models and star ratings as a result of increased cost inputs needed to attain those efficiencies through improved insulation, product design improvements, etc.
Although the brands will make every effort to absorb all costs, the price increase will have an impact on first-time consumers because affordability costs will climb. While several brands have already begun producing and distributing the new star-rated inventory, others are considering replacing the current product lines before the new inventory reaches all of the outlets. While this was going on, many other businesses had already begun placing their star-rated goods, and their old stock had already been sold.
