Ruling out any change in the government’s policy and priorities regarding solar energy, Prime Minister Shehbaz Sharif on Sunday instructed the authorities concerned to clear all ambiguities among the people regarding the solarisation policy through facts and figures.
The prime minister said this while chairing a review meeting on the matters related to the Power Division. He said there was no change in government’s policy on solar energy and promotion of renewable energy remained a priority.
The statement came days after the Economic Coordination Committee (ECC) of the Cabinet approved amendments to the existing net metering regulations of rooftop solar under which the buyback rate was slashed down from Rs27 to Rs10 per unit.
The decision comes in light of a significant increase in the number of solar net-metering consumers, with associated financial implications for grid consumers.
As part of the approved changes, the ECC has revised the buyback rate from the National Average Power Purchase Price (NAPP) to Rs10 per unit. Furthermore, the committee approved the proposal, subject to the ratification of cabinet, to allow the National Electric Power Regulatory Authority (Nepra) to revise this buyback rate periodically, ensuring that the framework remains flexible and aligned with evolving market conditions.
It was clarified, however, that the revised framework will not apply to the existing net-metered consumers who had a valid license, concurrence, or agreement under the Nepra (Alternative & Renewable Energy) Distributed Generation and Net Metering Regulations, 2015. Any such agreements will remain effective until the expiration of the license or agreement, whichever occurs first.
Whereas, Federal Minister for Energy Sardar Awais Ahmad Leghari on March 16 claimed that the number of solar net-metering consumers would increase after new regulations.