Asia-Pacific
With a power score of 1.97, Sri Lanka ranks number 50 among Emerging Markets and number 14 in the Asia-Pacific region
Power score
1.97/5
Score over time
2021 - 2024
Sri Lanka has a power score of 1.97, which puts it at rank 50 in the Emerging Markets power ranking. In comparison to 2023, Sri Lanka has dropped in the power rankings by 16 places, from rank 34, to rank 50.
At 1.97, the power score of Sri Lanka is better than than the regional average of 1.94 in the Asia-Pacific region and puts it at rank 14 in the region.
Sri Lanka implements policies in 6/9 power policy categories tracked by Climatescope, including Renewable energy target, Renewable energy auction, Feed-in tariff, Net metering, Import tax incentives, and Renewable Energy Certificates.
The average electricity price in Sri Lanka has dropped from 69.84 USD/MWh in 2022 to 69.36 USD/MWh in 2023. Since 2017, the average electricity price in Sri Lanka has fluctuated between 69.36 USD/MWh (2023) and 100.19 USD/MWh (2017).
The top amount of capacity installed in Sri Lanka in 2023 was in Large Hydro at 30.4%, down from 32.43% in 2022. The technology with the biggest increase in capacity installed in 2023 was Small-scale PV - residential at 16.01%, up from 5.41% in 2022.
The top amount of electricity generated in Sri Lanka in 2023 was in Coal at 29.62%, down from 36.89% in 2022. The technology with the biggest increase in electricity generated in 2023 was PV at 6.12%, up from 3.99% in 2022.
Investment in clean energy in Sri Lanka was around $22.95 million in 2023, an increase of 171.05% from 2022 ($8.47 million). Between 2018 and 2023, the highest investment in clean energy was in 2018 at $44.02 million, while the lowest was in 2020 with $3.00 million.
Which segments of the power sector are open to private participation?
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Are other PPAs (eg. corporate PPAs) signed in or indexed to U.S. Dollars or Euro?
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Can a C&I (Commercial and Industrial) customer sign a long-term contract (PPA) for clean energy?
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Does the government keep the wholesale price of electricity from fossil fuels artificially low through subsidies?
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Does the government significantly increase the wholesale price of electricity from fossil fuel through targeted taxes and/or carbon prices?
For more information on best practices and climate action, explore the NetZero Pathfinders project by BloombergNEF.