RE Outlook
Making the switch to RE can be confusing if you have no prior knowledge of the industry. As such, with the recently extended Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE) till 2023, you can achieve optimum energy savings and enjoy reducing your overall operational costs. However, in order to encourage the nation, as well as the greater Asia-Pacific region, we bring you these upcoming trends and insights for the industry below:
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Nation Will Focus on Bridging Gaps Within RE
With the nation’s goal in reaching a RE mix target of 20% by 2025 and the extension of GITA and GITE till 2023, the Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC), is looking to reduce the reliability on fossil fuels (e.g.: natural gas, oil and coal), as well as lower the level of greenhouse gas (GHG) emissions.
As there are accessibility and financing challenges in obtaining RE, MESTECC has included initiatives to ensure those who invest in RE have more time to deploy the project, such as Net Energy Metering (NEM), Pilot Run of Peer-to-Peer (P2P) Energy Trading, the upcoming revised power purchase agreement (PPA) and more.
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Affordability
Due to the massive global adoption of solar PV systems, manufacturing costs have lowered, enabling solar PV panels to become more affordable. As such, solar PV systems have become more accessible to individuals in terms of pricing, investments and green financing solutions. To solve this issue, financial institutions are increasingly highlighting and building upon their green financing solutions, to provide more accessibility to individuals to invest in RE.
About Plus Solar Systems
Plus Solar Systems was formed to deliver quality turnkey solar photovoltaic (PV) solutions – Engineering, Procurement, Construction and Commissioning (EPCC) – for commercial, industrial and large-scale solar farm projects. We believe in the Energy Trilogy – Energy Generation, Energy Efficiency and Energy Storage which firms our passion and goal towards providing clean energy solutions for a better future.
As the nation’s leading total clean energy solutions provider, Plus Solar has collectively completed over 192MWp of grid-connected solar PV systems and four large-scale solar (LSS) PV power plants throughout Malaysia.
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Plus Solar
In Plus Solar, we believe in powering sustainable growth. Through offering world-class solar PV solutions, we aim to provide the highest solar PV development standards while making the switch to cleaner energy. A simple and effortless process for our customers.