Verdant Solar To Meet Housing Installation Target 

By Nur Syahidayah Mahasan

KUALA LUMPUR, Oct 8 (Bernama) -- Solar energy solutions provider Verdant Solar Sdn Bhd is on track to achieve its target of installing 1,300 residential solar panels this year.

 To-date, it has achieved about 70 per cent of that target with 850-900 installations, said chief executive officer Zeth Lim. The company had 650 installations last year.

Lim told Bernama in an interview that the overall market projection for the country for 2023 is about 10,000 installations.

“This underscores the notable acceleration in solar photovoltaic (PV) technology adoption,” he said. 

He attributed this burgeoning growth to the substantial drop in solar module price versus a decade ago.

“The cost has dropped to about 30 per cent of what it was in the past and the availability of various financing options has significantly bolstered appeal,” Lim said.

Financing options have played a pivotal role. Banks are now offering plans that span up to 10 years and technical energy performance contract providers are extending financing options up to five years. 

“These have been instrumental in driving solar PV system adoption,” he explained.

-- BERNAMA