The Uttarakhand Electricity Regulatory Commission (UERC) has issued a suo-motu order on November 19, 2024, revising the benchmark capital cost and determining the generic tariff for Solar PV, Solar Thermal, and Grid Interactive Rooftop & Small Solar PV projects for the financial year 2024–25. This review has been carried out under the UERC (Tariff and Other Terms for Supply of Electricity from Renewable Energy Sources and non-fossil fuel-based Co-generating Stations) Regulations, 2023.

For Solar PV projects, the Commission approved a revised benchmark capital cost of ₹308.03 lakh per MW. This includes ₹104.36 lakh for PV modules, ₹50 lakh for land, and ₹153.68 lakh for other components such as civil works, mounting structures, and power conditioning units. Based on this capital cost, the Commission determined a gross levelised tariff of ₹4.43/kWh and a net tariff of ₹4.25/kWh after accounting for accelerated depreciation of ₹0.18/kWh. These tariffs apply to projects commissioned on or after April 1, 2024.

For Grid-Interactive Rooftop and Small Solar PV systems, capital costs and tariffs have been categorized based on capacity. For systems up to 10 kW, the capital cost is ₹43,063/kW with a gross tariff of ₹6.08/kWh and a net tariff of ₹5.84/kWh. For capacities above 10 kW to 100 kW, the capital cost is ₹39,507/kW with a gross tariff of ₹5.52/kWh and a net tariff of ₹5.30/kWh. For systems between 100 kW and 500 kW, the capital cost is ₹37,271/kW and the gross and net tariffs are ₹5.14/kWh and ₹4.94/kWh, respectively. For capacities above 500 kW and up to 1 MW, the capital cost is ₹36,185/kW with a gross tariff of ₹4.93/kWh and a net tariff of ₹4.73/kWh.

The Commission also clarified how subsidies affect tariffs. For every 1% of capital subsidy, the gross and net tariffs decrease by fixed values, depending on the capacity category. For example, for systems up to 10 kW, a 27% subsidy would reduce the gross tariff by ₹0.64/kWh and the net tariff by ₹0.61/kWh.

For Solar Thermal projects, the approved benchmark capital cost is ₹1,200 lakh per MW. The gross levelised tariff is ₹12.20/kWh, and the net tariff after accelerated depreciation of ₹0.54/kWh is ₹11.66/kWh. This is a reduction from the previous year’s tariff of ₹14.34/kWh (gross) and ₹13.70/kWh (net).

The revised tariffs will remain applicable until further review by the Commission. The order also includes detailed cost breakdowns, generation assumptions, and financial modeling to support the tariff calculations. The Commission did not receive any objections or comments from stakeholders, and the final order follows the methodology used in the draft order dated September 5, 2024.