Monday Nov 18, 2024
Monday Nov 18, 2024
Tuesday, 6 August 2024 01:13 - - {{hitsCtrl.values.hits}}
In a decisive move by the Public Utilities Commission of Sri Lanka (PUCSL), the payments for rooftop solar power plants will remain unchanged. This decision, detailed in a circular issued by the Ceylon Electricity Board (CEB) General Manager Dr.Narendra Silva, confirms that the price of Rs. 37 per unit of solar electricity, imposed in 2022, will continue to be valid. The circular, dated 29 July, amends the effective date of Rooftop Solar PV (RTSPV) schemes to 25 October 2022, while maintaining the rest of the content unchanged.
This development comes amidst recent concerns raised by the Renewable Energy Protectors’ Association (REPA).
The REPA has voiced apprehensions over the Government’s decision to reduce tariff rates for new rooftop solar and renewable energy projects, effective from 1 July 2024.
The new tariffs, announced by the Power and Energy Minister Kanchana Wijesekera, are based on a 2022 formula that considers the USD rate, interest rates and other economic factors.
Minister Wijesekera in a post on X stated: “The revised rates aim to promote the development of rooftop solar projects and other renewable energy initiatives under 10 MW. This decision follows extensive stakeholder consultations and a detailed report from the tariff committee.”
The revised tariff rates for rooftop solar and other renewable energy feed in tariffs are as follows:
Revised Rooftop Tariff (20-year flat rate):
- Up to 500 kW: Rs. 27.06 per kWh
- Over 500 kW: Rs. 23.18 per kWh
Revised Feeding Tariff (20-year flat rate):
- Solar: Rs. 25.48 per kWh
- Mini Hydro: Rs. 30.53 per kWh
- Wind: Rs. 29.86 per kWh
- Biomass: Rs. 52.77 per kWh
Despite these revisions, the fixed tariffs for rooftop solar power plants, as per the CEB, will remain at Rs. 37 per unit for up to 500 kW, Rs. 34.50 for over 500 kW and Rs. 34.50 for solar aggregation schemes.
Once the Power Purchasing Agreement (PPA) is signed, these rates will be fixed for the next 20 years.
Industry stakeholders have welcomed the stability in rooftop solar tariffs. They believe this consistency will support the renaissance of the energy sector, fostering investor confidence and encouraging the growth of sustainable energy initiatives.
They continue to emphasise the importance of Government support for renewable energy projects to ensure the long-term energy supply necessary for economic development.
