New tariff rates for rooftop solar in Sri Lanka effective July 1, 2024, to promote renewable energy.

New Tariff Rates for Rooftop Solar: Major Boost for Renewables

Revised Rooftop Solar Tariff Rates in Sri Lanka 2024 Announced by Minister

The Cabinet of Ministers has approved new tariff rates for rooftop solar and other renewable energy projects.

The decision was announced by Power and Energy Minister Kanchana Wijesekera.

The revision, effective from July 1, 2024, is based on a formula adopted in 2022, which considers the USD rate, interest rates, and other economic factors. This formula ensures the tariff rates are reflective of current economic conditions.

The revised rates aim to promote the development of rooftop solar projects and other renewable energy initiatives under 10MW,” Minister Wijesekera stated. “This decision follows extensive stakeholder consultations and a detailed report from the tariff committee.”

The revised tariff rates for rooftop solar development and the renewable energy feeding tariff are as follows:

Revised roof top tariff (20-year flat rate):

– Up to 500kW: Rs 27.06 per kWh
– Over 500kW: 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