The Ministry of Energy Transition and Water Transformation in Malaysia is collaborating with private and public partners to provide financial incentives and discounts for citizens adopting solar energy. This initiative follows the government rebate scheme introduced in April and aims to further encourage the adoption of renewable energy by reducing the financial barriers for homeowners. Through this partnership, the ministry seeks to accelerate the country’s transition to sustainable energy while promoting greater environmental responsibility.
Malaysia’s Ministry of Energy Transition and Water Transformation (Petra) is introducing a new scheme aimed at encouraging citizens and private organizations to adopt solar energy. The Solar@PETRA Initiative, also known as the Energy Transition Solar Initiative for the People, is a collaboration between Petra, Aeon Group, Malaysian solar energy firm Sols Energy, and BSN, a government-owned Malaysian bank.
This scheme will offer subscriptions for solar installations at Aeon branches, allowing citizens to access solar energy easily. Government employees will have access to competitive solar financing through Sols Energy, and a zero-capital solar subscription facility will be available to domestic users via BSN.
Malaysia’s Deputy Prime Minister, Datuk Seri Fadillah Yusof, emphasized that the program aims to broaden domestic users’ access to solar installation schemes and financing facilities. It complements the government’s solar rebate program implemented by state-owned utility Tenaga Nasional Bhd in April.
According to the International Renewable Energy Agency, Malaysia had installed 1,933 MW of solar by the end of 2023. With the recent announcement of the fifth large-scale solar tender, up to 2 GW will be available for rooftop, ground-mount, and floating solar projects.