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To encourage the production and use of renewable energy (RE) sources all over Malaysia, the government has put forward various incentives that allow RE producers (individuals and businesses) to monetize on their excess energy production. One of these is the feed in tariff. This system obliges electricity distributors to purchase electricity generated through RE sources from legitimate feed-in approval certificate holders.
As a resident or business owner, therefore, you have an opportunity to earn from solar energy through your installed solar panels as long as you are considered a Feed-in Approval Holder. If you have not put up your own on grid solar system yet, consult us at Solar Boost today.
We can help you choose a monocrystalline solar panel or a polycrystalline solar panel system. Solar Boost is also ready to supply you with a range of products, from solar inverters to solar batteries, so you can get started on your application for a feed in approval in Malaysia right away.
First initiated in Malaysia in 2004, the feed in tariff system has resulted in the passing of crucial laws affecting the use and production of renewable, sustainable energy in the country. This system requires electricity DLs or Distribution Licensees to purchase electricity from solar, biomass, biogas, or small hydro sources generated either by individual homeowners or busines operators. This is done through a set rate, known as the Feed in Tariff (FiT) rate, which will be determined by the government. Different types of renewable sources may command different FiT rates as well as specific selling durations. There is also set feed in tariff quota that determines the amount of electricity which may be sold to DLs.
Just like the Net Energy Metering (NEM) scheme in Malaysia, the feed in tariff system provides incentives to individuals and businesses that invest in solar PV systems. This allows you to profit from your installed solar power system in Malaysia while you save on electricity costs and help reduce your carbon footprint in the environment.
Interested to start your own solar power production today? Get in touch with us at Solar Boost as early as now!