Cabinet nod to revise rooftop solar tariff

Wednesday, 26 October 2022 00:22 - - {{hitsCtrl.values.hits}}

Energy Minister says two-tier tariff rate of Rs. 22 and Rs. 15.50 will be revised to a flat rate of Rs. 37 for below 500 KW and for over 500 KW Rs. 34.50 will be charged for 20 years
Notes tariffs approved by Cabinet will be revised annually based on a price formula
Move is part of Govt.’s policy decision to generate 70% of electricity requirement via renewable energy sources by 2030 and to zero carbon emissions by 2050

Cabinet of Ministers at its meeting yesterday approved the revision of rooftop solar tariff charges.

The move is part of the Cabinet decision taken in January 2022, to boost renewable energy supply via a program promoting installation of Battery Energy Storage Battery Systems for rooftop solar systems.

“The two-tier existing tariff rate of Rs. 22 and Rs. 15.50 will be revised to a flat rate of Rs. 37 for below 500 KW capacity and Rs. 34.50 will be charged for over 500 KW rooftop solar for a period of 20 years,” Power and Energy Minister Kanchana Wijesekera announced via Twitter yesterday.

It is also part of the Government’s policy decision to generate 70% of the electricity requirement from renewable energy sources by 2030 and to zero carbon emissions by 2050.

Minister Wijesekera added that the tariffs approved by the Cabinet will be revised annually based on a price formula.

The proposal to this effect submitted by Power and Energy Minister Kanchana Wijesekera yesterday was approved by the Cabinet of Ministers on yesterday.

Last week, Minister Wijesekara said a $ 100 million credit line extended by the Indian Government for rooftop solar will be utilised to equip several State-owned buildings for power generation.

He made these remarks following a progress review meeting held on Saturday. The meeting was attended by officials from the Indian High Commission State Minister D.V. Chanaka, the Ceylon Electricity Board and the Sustainable Energy Authority of Sri Lanka.

Schools, universities, education institutes, hospitals, districts, Divisional Secretariats, Government buildings and religious institutes will be equipped with rooftop solar, utilising the Indian credit line, the Minister said via Twitter on Saturday.

At present, about 400 MW of the country’s power grid is being supplied by rooftop solar systems.

Following the Cabinet decision in January, the Power and Energy Minister in May 2022 announced that the Government will launch a rapid renewable energy generation plan from June onwards, which will be executed in two quick steps which include; conversion of rooftops to solar panels and extending immediate nod to provisional approval for proposed renewable energy proposals.