PETALING JAYA: Clean energy specialist Solarvest Holdings Bhd has established a subsidiary Vestech Energy Sdn Bhd to focus on providing solar solutions to the residential segment with the aim of improving the adoption rate of solar energy among homeowners .
Through Vestech, Solarvest has launched six EcoHome solar plans suitable for homeowners with average monthly electricity bills from RM300 and above. EcoHome solar plans come with a solar system size ranging from 4.5 kilowatt-peak (kWp) to 12.6 kWp. Each of the plans offers long-term cost-effective solutions with savings of up to 90% on electricity bills.
Solarvest Group Executive Director and CEO Davis Chong Chun Shiong said that with sustainable living and climate awareness being a rapidly growing trend among Malaysians, the group has seen greater demand for solar PV systems on the global market. indoor market.
“We are introducing Vestech because it better meets the needs of homeowners with direct access to a clean energy source. This focused focus on the residential solar market will complement our commercial, industrial and utility solar services, where we already have a strong presence. Ultimately, our goal is to establish and maintain market-leading status for EPCCs in all three segments.
Under the Net Energy Metering Rakyat program introduced by the Sustainable Energy Development Authority, there are still 51.9 megawatts of quota currently available.
“For those living in landed properties, installing solar photovoltaic panels is an attractive method of doing so. Coupled with attractive financing facilities such as the zero upfront payment solution which removes the cost entry barrier, we aim to reach potentially an installation of 2,000 residential solar projects per year.
“In addition, we plan to encourage the adoption of solar energy by expanding the coverage of Powervest, our solar financing platform, to household users in the future. Ultimately, our goal is to extend the flexibility of Powervest financing solutions to our overseas projects in five ASEAN countries and Taiwan. This plan will positively contribute to our efforts to expand our market presence in these growing economies,” Chong said.