Costa Rica’s Regulatory Authority for Public Services (ARESEP) has proposed new feed-in tariffs for PV projects ranging in capacity from 1 MW to 20 MW.
The regulator has set initial rates at between $0.0751 per kilowatt hour and $0.1794 per kilowatt hour.
Juan Manuel Quesada, ARESEPs head of energy, described the FIT proposals "a bold step to promote the integration of renewable energy into the national electricity system, diversifying the energy matrix, promoting innovation and investment in this technology."
The proposed rates will be reviewed by a public hearing in June prior to final approval. The tariffs that are ultimately adopted will apply to all new solar PV plants with capacities equal to or less than 20 MW.
ARESEP said the FIT range would allow private PV developers to receive sufficient revenue to cover their operating costs and recover investment as well as a reasonable return for the level of risk associated with electricity generation.