Tuesday, July 24, 2012

SEDA targets 2,000 houseowners in Solar Power investment this year

A fortnight ago SEDA told newsmen in Putrajaya that it is targeting 2,000 house owners to invest in solar power through the feed-in tariff incentive. This is the non-industrial portion of the Solar PV quota for renewable energy sources which consist of four, namely Biomass, Small Hydro, Solar PV and Biogas.

Solar panels must be tilted to the correct orientation towards the sun. Photo: ontariosolarfarms.com

What is home Solar Power investment

Solar PV system is installed on your rooftop, you pay the initial investment and sign a contract with the utility (TNB, SESB, etc) for 21 years. Power generated from your rooftop would be sold to the utility at a premium rate. There is a feed-in tariff mechanism that governs this. Application is by online balloting and the process is free from human intervention.

A quick glance at SEDA portal showed that response for the individual FIT application is not very encouraging. This could partly be due to the financial constraint and the ability of the interested individuals to come up with the necessary down payment.

Interesting thing to note is the statement by the Chairman that the 2,000 quota is also open to house owners in Sabah. Previously Sabah quota has been suspended due to non-participation of the Sabahans in the 1% levy on their electricity bills.

Read the full article:
Putrajaya, July 13. 
The Sustainable Energy Development Authority (SEDA) has targeted 2,000 houseowners this year, and 10,000 the next, to invest in solar power which could earn the latter an average of RM500 monthly for 21 consecutive years.

Its chairman, Tan Sri Dr Fong Chan Onn said, each house which had to be installed with solar panels could generate four kilowatts of power for sale to Tenaga Nasional Berhad. The biggest encumberance for mega participation in the renewable energy investment was the financial capital involved in the installation of the
project, he said.

"One kilowatt would incur a cost of RM10,000, so for four kilowatts, RM40,000.

"To encourage owners of terraced house, bungalows and low-cost houses, SEDA is in discussion with some commercial banks to ease the loan process," he said in a media conference here today.

Nevertheless, he said, despite the high investment, homeowners could expect to get back their capital after six years. Dr Fong said the 2,000 quota would be opened next month to houseowners in the peninsula and Sabah.

1 comment:

Anonymous said...

good post, added you to my RSS reader.