Solar users face higher costs as policy revised

In yet another knee-jerk reaction to curb renewable energy growth through solar net metering amid high grid electricity costs, the government on Thursday reduced the buyback rate by two-thirds to Rs10 per unit and scrapped net billing. The decision, applicable to new net-metering consumers, was taken at a meeting of the Economic Coordi­nation Committee (ECC) of the Cabinet, presided over by Finance Minister Muhammad Aurangzeb. Under the revised policy, power companies will purchase surplus solar electricity from consumers at Rs10 per unit during the day while selling grid electricity at Rs42 per unit (off-peak) and Rs48 per unit (peak) after sunset — excluding taxes and duties.