Malaysia’s Ministry of Energy Transition and Water Transformation (PETRA) has announced a new incentive scheme to encourage residential energy consumers to adopt solar power. The new Solar for Rakyat Incentive Scheme (SolaRIS) is being carried out under the net energy metering program (NEM).
Under this, the government is offering a cash rebate of between MYR 1,000 to MYR 4,000 ($211 to $843)/kW AC to those who submit applications to the Sustainable Energy Development Authority (SEDA) Malaysia on and after April 1, 2024.
The scheme is open to all Malaysian citizens who are account holders with the Tenaga Nasional Berhad (TNB). It is also open to those who are 1st time applicants for the NEM program.
Rebates will be deposited into the users’ bank accounts after the installation and operation of the solar system under the program. The solar system should be in operations by March 31, 2025. TNB will manage the program.
“With this resolution, the Ministry of Energy Transition and Water Transformation (PETRA) is confident that SolaRIS can attract more domestic users to participate and enjoy the benefits of installation of solar systems in residential premises, further contributing to energy transition aspirations as well as the country’s carbon neutral target of 2050,” said the country’s Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also heading PETRA.
Rebates will be offered on a ‘first come first served’ basis, or till all quota is exhausted. Application submission window is open from April 1, 2024 to December 31, 2024.
PETRA has also approved an additional 100 MW capacity for the NEM Rakyat Program, taking the total capacity available to 350 MW. Applications can be submitted till December 31, 2024, or until the quota is exhausted.
Malaysia says this scheme is aligned with the national target to increase renewable energy capacity in the electricity supply system to 70% by 2050.
Recently, the Energy Commission invited bids for 2 GW AC solar PV capacity under round 5 of its flagship Large Scale Solar (LSS) program.
Source：Taiyang News