Connect with us

News

VAT hike threatens price surge for rooftop systems, hindering renewable energy progress

Published

on

Dr. Lakmal Fernando

Sri Lanka faces solar setback

By Rathindra Kuruwita.

Secretary of the National Chamber of Commerce of Sri Lanka and Chairman of the Power and Energy Council NCCSL, Dr. Lakmal Fernando, has said the price of roof-mounted solar systems is set to increase by over Rs 200,000 due to the VAT hike taking effect from 01 January 2024.

Previously, those systems were exempt from VAT Dr. Fernando said.

“These systems come in two types: single-phase and three-phase. A single-phase system currently costs about a million rupees. Its price will go up to around 1.2 million rupees with VAT. A three-phase system costs about 1.3 million rupees and is expected to increase by about 260,000 rupees,” he said.

Dr. Fernando emphasised that the government’s official policy was to derive 70 percent of energy from renewable sources by 2030. Over the last decade, there had been a significant increase in the utilisation of those systems, resulting in the production of approximately 750 megawatts of electricity from rooftop systems, he said.

“We save about 82 million dollars annually thanks to rooftop solar units.There is currently considerable interest in solar power generation. However, with these impending price hikes starting from 01 January, many individuals may be discouraged.



News

Hundreds fired at aviation safety agency, union says

Published

on

By

The Trump administration has begun firing hundreds of Federal Aviation Administration (FAA) employees, according to the Professional Aviation Safety Specialists (PASS) union, weeks after a fatal mid-air plane collision in Washington DC.

Several hundreds of the agency’s probationary workers – who have generally been in their positions for less than a year – received the news via email late on Friday night, a statement from PASS’s head, Alex Spero said.

It is a part of a cost-cutting drive, driven by Elon Musk’s Department of Government Efficiency (Doge)., that aims to drastically cut the federal workforce.

Spero called the firings “shameful” and said they “will increase the workload and place new responsibilities on a workforce that is already stretched thin”.

 

Continue Reading

News

The term of Acting President of the Court of Appeal Justice Mohammed Thahir Laffar extended

Published

on

By

The term of Acting President of the Court of Appeal Justice Mohammed Thahir Laffar has been extended.

Accordingly, Justice Mohammed Thahir Laffar took his oath before President Anura Kumara Disanayake at the Presidential Secretariat on Monday (17). Secretary to the President Dr. Nandika Sanath Kumanayake was also present on this occasion.

Continue Reading

Latest News

Colombo High Court serves indictments against SLPP Parliamentarian Namal Rajapaksa

Published

on

By

The Colombo High Court has served indictments against Sri Lanka Podujana Peramuna (SLPP) Parliamentarian Namal Rajapaksa.over alleged misappropriation of Rs. 70 million provided by Krrish Company for development of rugby in Sri Lanka.

 

Continue Reading

Trending