I would like to encourage SMEs to explore the feasibility of doing rooftop solar projects at your business premises by taking advantage of the following incentives…– MESTECC Minister Yeoh
- Net Energy Metering (NEM) is a policy where consumer can produce and consume your electricity by installing solar pv system on your own rooftop. Any excess electricity produced by your solar pv system can be offset on a “one-on-one basis”. (kWh to kWh). Those interested can estimate the minimum upfront cost of investment, payback period and monthly electricity savings through the online NEM calculator here: www.seda.gov.my/nemcalculator
- GITA (Green Investment Tax Allowance) – Commercial and industrial companies involve in specific projects that promote renewable energy such as generating solar power can get special incentive. This incentive parked under GITA which will gives the companies 100% of qualifying capital expenditure (QCE) incurred from the date of application received by MIDA until 31 December 2020. GITA can be offset against 70% of statutory income.
- More information can be found here: http://www.seda.gov.my/reportal/re-incentive/
- Please refer to the Guideline for Application for Incentives at http://www.mida.gov.my/…/tax-incentives-for-green-in…/posts/ for more details on qualifying activities and eligibility criteria.
- GTFS (Green Technology Financing Scheme) – To finance investment on green technology, the Government has introduced GTFS 2.0 in budget 2019, which will be offering a 2% p.a. interest rate subsidy for the first five years of green projects with 60% loan guarantee for total loan value of RM 2 billion for 2019-2020.