Friday, August 9, 2013

Residential Solar PV system financing packages by Senheng

Climate is certainly good for the solar PV industry in Malaysia; at least where financing is concerned.

Just a couple of months ago, Alliance Bank Bhd came up with Home Complete Plus-Solar Panel Financing. Then, earlier this month, Bank Muamalat became the second bank in Malaysia to offer financing for solar PV under the Home Solar Rooftop Programme by SEDA.

Simplified details of the 3 packages offered by Senheng

Latest to join in the bandwagon is Senheng Electric (KL) Sdn Bhd, an electrical and electronic retail chain store with more than 130 outlets nationwide, with its financing package themed “Green Energy, Green Money”. It is slightly different in that the package includes consulting, installation and maintenance of the solar PV system, whereas Alliance Bank and Bank Muamalat only provide financing after the customer has fulfilled all the installation requirement on his own.

Green Energy, Green Money

The theme “Green Energy, Green Money” is derived from the idea that the residential solar PV system is one of the most effective ways in producing green energy, while at the same time able to provide a source of income. Consumers will now be able to play a very important role in decreasing the harmful impact of traditional energy sources (fuel, coal, etc) to the environment, whilst generating a side income.

3 Packages available

Senheng offers 3 residential solar PV system packages, all come with free first 3 years maintenance service:-
4kWp system - cost around RM40,800
8kWp system - cost around RM81,600
12kWp system - cost around RM122,400

Senheng provides 85% financing with special low interest rate for customers, and as a carrot, customers are entitled to 15% cash rebate after full installation.


This will initially be available only at Klang Valley Senheng outlets and senQ Digital Stations, but the company will expand to other states over time.

Very attractive prepositions, especially with the 15% cash rebate upon full completion. A bold move by the company. But the 'special low interest rate' now seems like a distant reality as the company needs to recoup the rebate amount - RM6,120, RM12,240 and RM18,360 - respectively for each package.

Note: The total revenue and total surplus mentioned in the brochure are only estimations. Actual revenue will be determined by weather condition and efficiency of the solar PV system.

An interesting alternative though, for the consumers.

Reference: Senheng Electrical website


Fay Jesselton said...

I'm thinking of importing and installing all by myself.. bulihkaitu ah? ahahahaha

thomas said...

It's getting more interesting provided you got a roof to play with.

teh ramuan said...

satu perkembangan yang baik
makin lama nampak makin menarik

de engineur said...

Only folks in Klang valley get to enjoy these packages. The rest of Peninsula Malaysia need other sources of financing.

For those in Sabah & Sarawak, the Feed-in Tariff is not applicable. Meaning, solar PV is not viable yet for the time being.