Cabinet approves new tariff rates for solar and renewable energy

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The Cabinet of Ministers has approved new tariff rates for rooftop solar and other renewable energy projects. Power and Energy Minister Kanchana Wijesekera announced the decision in a recent post on X.

Effective from July 1, 2024, the revision is based on a formula adopted in 2022 that considers the USD rate, interest rates, and other economic factors. This ensures that the tariff rates reflect 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 rooftop 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
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