In a bid to attract more consumers towards the net-metering scheme the Sri Lankan government is planning significant changes in the way excess power generation accounted.
The Cabinet has approved a proposal to introduced cash payout to consumers for the excess electricity they generate. At present, the excess electricity generation by rooftop solar power systems is carried forward to up to 10 years.
Under this net accounting system, Ceylon Electricity Board will pay LKR22.00/kWh (US¢15/kWh) for this first seven years while the from the eighth year onwards it will pay LKR15.50/kWh (US¢11/kWh). The payments shall continue for a period of 20 years.
The scheme has been targeted at high-end consumers. These consumers shall be paid for all electricity generated and they shall pay for the electricity consumed by them. At such high feed-in tariffs the consumers will be incentivised for setting up rooftop solar power systems.
The scheme is expected to increase the installed rooftop solar power capacity in the country which currently stands at around 30 MW.
Recently, the Sri Lankan government announced that this revamped net-metering scheme will be implemented in phases, starting with the northern, southern and eastern provinces. The government hopes that the new scheme would motivate at least 20% of the consumers to set up rooftop solar power systems and generate their own electricity.
Sri Lanka aims to ramp up the share of renewable energy in power generation to 60% by 2020 and 70% by 2030. To achieve this target, 600 MW of wind plants and 3,000 MW of solar plants will be built within the next 10 years.