The Malaysian government has taken significant steps towards promoting renewable energy by introducing a new incentive program aimed at domestic consumers. According to a media statement released by the YAB Deputy Prime Minister and Minister of Energy Transition and Water Transformation (PETRA) on 27 March 2024, the Solar for Rakyat Incentive Scheme (SolaRIS) has been launched to encourage the installation of solar photovoltaic (PV) systems in residential premises.
Key Features of SolaRIS
– One-time Cash Rebate: Residential consumers who apply for the Net Energy Metering (NEM) program and install solar PV systems will receive a cash rebate of RM1,000 per kWac, up to a maximum of RM4,000. This rebate is available for applications submitted from 1 April 2024 onwards, subject to the terms and conditions of the SolaRIS program.
– First Come, First Served: The rebate is allocated on a first come, first served basis from 1 April until 31 December 2024, or until all SolaRIS rebate quotas are fully distributed, whichever comes first. Installations must be commissioned by 31 March 2025.
– Rebate Distribution: After receiving an email confirmation from Tenaga Nasional Bhd (TNB), the rebate will be transferred to the preferred local bank account of the registered TNB customer.
The Malaysian government believes that SolaRIS will attract more residential consumers to install solar PV systems, thereby benefiting from lower electricity bills while contributing to the nation’s energy transition goals and the target of achieving carbon neutrality by 2050.
What is SolaRIS?
The Solar for Rakyat Incentive Scheme (SolaRIS) is an initiative launched by the Malaysian government to promote the installation of solar photovoltaic (PV) systems in residential premises. This program supports the government’s goal of increasing renewable energy capacity in the electricity supply system to 70% by 2050 and reducing carbon emissions.
Residential customers who submit NEM applications to the Sustainable Energy Development Authority (SEDA) Malaysia from 1 April 2024 onwards and successfully commission their solar PV system installations with TNB will receive a cash rebate of up to RM4,000 (approximately USD 843.60). The application deadline is the end of the year, with quotas allocated on a first come, first served basis.
Additional Green Energy Initiatives
In addition to SolaRIS, the Malaysian government has introduced several other measures to promote the development of green energy.
– Energy Exchange Malaysia (Enegem): Announced in April, this new entity aims to facilitate cross-border green electricity trading with neighboring countries, enhancing energy cooperation and accelerating the transition to renewable energy.
– Green Electricity Tariff (GET): In May, PETRA introduced a new tiered pricing mechanism, reducing the rates for this year’s 6,600 GWh green electricity tariff quota. This initiative encourages Malaysian consumers to opt for green electricity, thereby reducing their carbon footprint.
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These strategic initiatives demonstrate the Malaysian government’s commitment to promoting renewable energy adoption and reducing carbon emissions, signaling a strong commitment to a sustainable energy future.
