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Malaysian Government Introduces Residential Solar Incentive Program

published: 2024-05-09 10:56

The Ministry of Energy Transition and Water Transformation in Malaysia is collaborating with both private and public entities within the country to provide citizens with financial incentives and discounts for embracing solar energy. This initiative comes on the heels of a government rebate scheme launched in April.

Malaysia's Ministry of Energy Transition and Water Transformation (Petra) is rolling out the Solar@PETRA Initiative, aimed at encouraging both citizens and private organizations to embrace solar energy. This collaborative effort involves Petra, the Aeon Group, Malaysian solar energy firm Sols Energy, and BSN, a government-owned Malaysian bank. The initiative, also referred to as the Energy Transition Solar Initiative for the People, marks a significant step towards advancing renewable energy adoption in the country.

help me rewrite the following news in a better way: Malaysia’s Deputy Prime Minister, Datuk Seri Fadillah Yusof, said the program is designed to expand domestic users’ access to solar installation schemes and available financing facilities in the market. He added it complements the solar rebate program introduced by the government in early April, which is being implemented by state-owned utility Tenaga Nasional Bhd.

Malaysia’s Deputy Prime Minister, Datuk Seri Fadillah Yusof, emphasized that the program aims to broaden domestic users’ access to solar installation schemes and various financing options in the market. He noted that this initiative complements the government's solar rebate program, introduced in early April and managed by state-owned utility Tenaga Nasional Bhd.

By the conclusion of 2023, Malaysia had successfully installed 1,933 MW of solar capacity, as reported by the International Renewable Energy Agency. In recent developments, the country unveiled its fifth large-scale solar tender, offering up to 2 GW of capacity for rooftop, ground-mount, and floating solar projects.

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