KUALA LUMPUR, Nov 26 (Bernama) -- The government intends to provide sustainable, reliable and affordable solar energy for Malaysians through new policies beginning Jan 1, 2019, such as the New Net Energy Metering (NEM) Scheme and Supply Agreement for Renewable Energy (SARE), says Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin.
“I hope our solar players will not only share the solar solutions pie in Malaysia but become market leaders by providing solar solutions to other countries in ASEAN,” Yeo said at a recent dialogue session with solar photovoltaic (PV) industry players organised by SEDA Malaysia with the cooperation of the Energy Commission and Tenaga Nasional Bhd (TNB),
In a statement today, the Sustainable Energy Development Authority (SEDA) Malaysia said the new policies were introduced to create a fertile ground to grow the solar industry by opening the market and subsequently push the local players to become regional solutions providers.
The NEM scheme will upgrade from the net billing concept to the pure net energy metering scheme that will be applicable only to Peninsular Malaysia for registered TNB customers.
“Under the existing net billing (scheme), excess electricity is sold to TNB at displaced cost of 31 sen per kWh, but under the new scheme, monthly electricity bill will be consumption (from TNB) minus generation (from solar) multiply with the retail electricity tariff.
“This will result in additional electricity savings per month and will help the return of investment in PV systems,” SEDA said.
The development authority added that other changes in the new NEM and SARE included purchase mode, and new policy and requirements for foreign investors.