Owners of commercial and industrial buildings, especially small-and-medium enterprises (SMEs) have been urged to explore the feasibility of installing solar panels on roofs to reduce electricity bills and enjoy incentives offered by the government.
Read more at TheEdge, and we summarize the take away below:-
- According to the Malaysian Investment Development Authority, 100% green investment tax allowance is offered on qualifying capital expenditure incurred on green technology assets, which includes solar panels until 2020.
- To tackle the issues of capital investment, we have green financing schemes and tax allowances to facilitate and catalyse growth in the adoption of rooftop solar among commercial and industrial [building owners].
- Meanwhile, under the GTFS, a fund of RM2 billion (announced in Budget 2019) will be made available at selected commercial banks to subsidise the interest cost incurred by the investment into green technology by 2% for the first five years.
- Such incentives include green investment tax allowance and the Green Technology Financing Scheme (GTFS), but many are still unaware of them, said Minister of Energy, Science, Technology, Environment and Climate Change (MESTECC) Yeo Bee Yin today.