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Published on:
- 10 May 2024
Discover the Solar Tax Incentive in Malaysia through the Net Energy Metering (NEM) Program
However, the cost is still an important obstacle to the power’s amazing potential to rebuild Malaysia’s energy infrastructure. The Malaysian government has implemented the Net Energy Metering (NEM) Program, which offers a solar tax incentive to promote the use of solar energy among Malaysians, to overcome the cost challenge. The concept behind NEM is that the PV system will be used up first, and any power left over will be exported to TNB at the market rate.
By 31 December 2020, the 500MW quota of the Net Energy Metering (NEM) program in Malaysia has been completely subscribed under NEM 2.0. In response to the huge interest and to further encourage the use of solar energy, NEM 3.0 was released on 29 December 2020, with an implementation date of 2021–2023. A total quota allocation of up to 1,050MW is made available under NEM 3.0, indicating a sustained commitment to promoting the use of renewable energy in Malaysia.
Additionally, under the NEM scheme, the government has declared an extra 400MW quota that will be in force from 5 February 2024 until 31 December 2024, as per the latest announcement. Of this, 300 MW are set aside for the NEM Nova program, which serves commercial and industrial customers, and 100 MW are designated for the NEM Rakyat plan, which targets households. To further understand on NEM
To further understand the eligibility criteria of NEM, can visit Seda’s website.
Under NEM, solar energy system owners can offset their electricity bills by exporting excess power generated back to the grid. This means you can earn credits for your surplus energy, effectively reducing your overall electricity costs. Milieu Solar specializes in helping homeowners and businesses navigate the NEM. Our team of professionals will assist you in maximizing power output, choosing the right system size, and ensuring grid connectivity goes smoothly.
We work directly with customers to take pleasure in solar tax incentive advantages in Malaysia, making sure you get the most out of services. We will assist you in completing the necessary paperwork and regulations as we lead you through the application process. By utilizing solar tax incentive benefits, you may increase the financial return on your solar investment when we are on your side within any location in Malaysia. Our licensed Solar PV Engineers and consultants have over ten years of experience, and they have the know-how to create solutions that are specifically suited to your demands and requirements.
Are you prepared to realize solar energy’s full potential in Malaysia? To arrange a consultation for our business or home solar panel installation services, get in touch with our experts right now. With the Net Energy Metering (NEM) Program in Malaysia, which offers a solar tax incentive, let us help you make full use of the sun’s power and optimize your savings. Let’s take a look at our portfolio.
Milieu Solar, Solar Solution Specialist in Malaysia, empowering individuals and businesses to achieve sustainable energy independence while enhancing their ESG portfolio through specialized solutions, effectively reducing electricity bills and addressing climate change concerns, saving the planet for future generation.
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