The implementation of the renewable energy development not only benefits the sustainability of raw material resources but is also environmentally friendly as it reduces carbon emissions to the environment. According to the International Renewable Energy Agency (IRENA), Malaysia was the second-largest solar PV employer in Asia. The rise in Malaysia’s solar photovoltaic (PV) industry at the local and regional levels is regarding to strong government support, growing investors as well as consumers, and a decrease in costs. Thus, the adoption of solar power energy hit a lower impact to the environment and plays a main role in the Decarbonisation of our energy systems.
Tax exemption and Incentives for Solar Power Various incentives and programs were designed by the Government of Malaysia and utility companies which aims to encourage and rewards the producer/users who adopted the technology.
NEM Rakyat Programme
NEM GoMEnProgramme(Government Ministries and Entities)
NOVA Programme(Net Offset Virtual Aggregation)
Malaysia’s Feed -in Tariff (FiT) system
Sustainable journey with solar energy:
Green Investment Tax Allowance – GITA (Project)
▪ Clean green source of energy Solar power is eco-friendly and can help to reduce the carbon footprint. Solar energy will not harm the environment. The main resources need to run solar power are the sun and a source of clean water. ▪ Saving on electricity bill The most common application of solar energy is generating its own electricity even in the event of a blackout as long as the equipment, including the solar panels, is not damaged. As long as there is sunshine, you can generate electricity to power your home’s electrical appliances. By using solar energy in your home, you can reduce your electrical bills from 54% up to 87% per month, depending on your electricity usage (according to GSPARX, a wholly-owned subsidiary of TNB and a registered solar PV investor under SEDA Malaysia). In addition, the solar PV installation can raise your property’s selling value is due to the solar system installed can save on energy in the future. ▪ Diverse application Solar energy also can offer different purposes by harnessing the thermal energy of the sun to heat water via solar hot water systems. This allows you to multiply the benefits of this renewable
Green Income Tax Exemption – GITE (Services)
Green Technology Financing Scheme 2.0
Large Solar Scale (LSS)
Solar Powered Electric Vehicle (EV)
The popularity of electric vehicles is rapidly increasing local and globally. As of June 2022, Malaysia has 3,919 electric vehicles comprising electric cars, electric motorcycles, and electric buses. The industry of electric vehicles in Malaysia is expected to undergo rapid transformation with the exemption period of tax and import duties lifted. The nations have been motivated by the use of electric vehicles with the targets; to reduce carbon emissions; to draw in investments, and to create employment opportunities. There is a bright future for EVs in Malaysia as the EV cars have a wide selection in the market to suit your budget, needs, and brand preference. Electric cars are the way toward a cleaner and greener future as well as the appropriate financial performance as well as environmental benefits offered. 21
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