Malaysian Government Unveils Incentives for Home Solar Installations

Malaysia's Ministry of Energy Transition and Water Transformation, known as Petra, has introduced the Solar@PETRA Initiative. This project, also dubbed the Energy Transition Solar Initiative for the People, is a collaborative effort involving Petra, the Aeon Group, local solar company Sols Energy, and BSN, a state-owned bank.

 

The initiative aims to boost solar energy adoption among individuals and organizations. It includes offering solar subscriptions at Aeon outlets and special solar financing options with competitive rates through Sols Energy for government workers. Additionally, BSN will provide a solar subscription model that requires no upfront capital for domestic users.

 

The Deputy Prime Minister of Malaysia, Datuk Seri Fadillah Yusof, emphasized that the initiative seeks to broaden the availability and affordability of solar power solutions and financing options across the country.

 

He further explained that this initiative supports the government's earlier solar rebate program launched in April, which is managed by the state-controlled utility, Tenaga Nasional Bhd.

 

As of the end of 2023, Malaysia had achieved a solar capacity of 1,933 MW, as per the International Renewable Energy Agency. Additionally, the country recently announced its fifth large-scale solar tender, which aims to add up to 2 GW of new solar capacity. This tender will focus on various types of installations, including rooftop, ground-mounted, and floating solar projects.

 

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