CEB, LECO to introduce flexible solar scheme migration from next week

Tuesday, 31 October 2023 01:34 - - {{hitsCtrl.values.hits}}

Power and Energy Minister Kanchana Wijesekara announced yesterday that the Ceylon Electricity Board (CEB) and Lanka Electricity Company (LECO) will allow rooftop solar customers to make a one-time migration between Net Plus, Net Metering, and Net Accounting Schemes effective from next week.

Under this new policy, customers will have the flexibility to choose the scheme that best suits their energy needs and preferences.

Taking to ‘X’ the Minister said the migration will occur at the same rate as initially agreed in the Power Purchasing Agreement (PPA), ensuring a seamless transition without financial penalties. He also noted that the CEB and LECO are set to introduce rooftop financing schemes for new rooftop developments, slated to commence in December.

Industry analysts pointed out that the move will likely empower electricity users to have greater control over their solar power usage, whilst reaping a good return on investment (RoI). In addition, they said the financing scheme will make it more accessible to a wider user base.

They added that the financing options will play a key role in driving the adoption of solar technology, contributing to a greener and sustainable energy future in Sri Lanka. The initiative also aligns with the Government’s commitment to promote renewable energy solutions and reduce dependency on conventional power sources by 2030.