In a bid to promote renewable energy adoption, Malaysia's Ministry of Energy and Natural Resources has launched the People's Solar Incentive Scheme (SolaRIS). This initiative aims to encourage residential solar installations nationwide, empowering Malaysian citizens to embrace sustainable energy solutions.
Under SolaRIS, eligible Malaysians, including account holders with Tenaga Nasional Berhad (TNB) and first-time Net Energy Metering (NEM) project applicants, can receive cash subsidies ranging from RM1,000 to RM4,000 per kilowatt alternating current (kWAC). These subsidies help offset initial solar installation costs and increase renewable energy accessibility for homeowners.
SolaRIS plays a crucial role in advancing Malaysia's renewable energy goals, targeting a 70% renewable energy generation capacity by 2050. The initiative supports the country's commitment to reducing carbon emissions and promoting sustainability in the energy sector.
The application period for SolaRIS subsidies opened on April 1, 2024, and will run until December 31, 2024, or until the allocated 350MW subsidy quota is reached. Applicants must have operational solar systems by March 31, 2025, and meet PETRA's eligibility criteria.
Deputy Prime Minister Datuk Seri Fadillah Yusof, PETRA's Chairperson, stresses the significance of SolaRIS in steering Malaysia's energy transition and achieving carbon neutrality. The initiative underscores the government's dedication to sustainable development, paving the way for a greener, more resilient energy future.
Apart from SolaRIS, Malaysia is progressing on legislation concerning the feed-in tariffs for renewable energy. The country's comprehensive renewable energy strategy aims to promote investments and innovations, positioning Malaysia as a leader in sustainable development.
As Malaysia moves forward with its renewable energy agenda, the SolaRIS program stands as a cornerstone initiative in promoting solar adoption among residential consumers; driving sustainable energy development; and fostering a greener future for the nation.