Make presidential mission for low-cost renewable energy a reality

We commend the vision of Sri Lanka's current government to reduce national electricity costs by at least 30% and position the country as having the lowest electricity tariffs in the region.

- BY JEREMY FERNANDO AND CHULA GOONASEKERA

This goal is both ambitious and achievable, provided, as the President has rightly emphasised, that we reduce dependence on costly fossil fuels and accelerate the deployment of renewable energy, particularly rooftop solar with storage.

Rooftop solar remains one of the most practical and cost-effective solutions, offering households not just energy savings but a valuable investment opportunity.

The Case for Rooftop Solar

Sri Lanka currently depends heavily on fossil fuel-based electricity generation. Thermal and diesel plants produce power at costs ranging from LKR 30-60 per kWh, while many Independent Power Producer (IPP) contracts impose high capacity chargessometimes reaching LKR 60-90 per kWh. These expenses weigh heavily on both the Ceylon Electricity Board (CEB) and the broader economy.

By contrast, rooftop solar systems, even when combined with battery storage, are estimated to generate power for less than LKR 45.80 per kWh, according to publicly available data. Redirecting policy support toward solar plus storage would significantly reduce system costs, conserve foreign exchange, and shield the economy from global fuel price volatility.

Learning from Global Leaders