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Plus Xnergy Advocates For Policies To Accelerate Solar Adoption In Budget 2025

Plus Xnergy Holding Sdn Bhd Group CEO Ko Chuan Zhen

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Oct 3 (Bernama) -- Budget 2025 should include more robust and flexible policies aimed at enhancing solar adoption, both for businesses and homeowners, according to Plus Xnergy Holdings Sdn Bhd.

Group chief executive officer Ko Chuan Zhen said expanding tax incentives and green financing schemes would encourage broader participation in renewable energy initiatives from all stakeholders, including businesses, homeowners, and industry players alike.

“We urge the government to relax certain policy frameworks and criteria to make green energy more accessible to manufacturers.

“For example, while the Corporate Renewable Energy Supply Scheme (CRESS) applies to corporate consumers with medium to high voltage requirements, expanding its scope to include businesses with lower energy demand would allow more players to benefit from the programme,” he told Bernama.

Ko also said that the Net Energy Metering (NEM) scheme for rakyat quotas should be expanded to make solar power accessible to a larger segment of homeowners, supporting Malaysia’s transition towards a greener future.

He said while the Solar For Rakyat Incentive Scheme (SolaRIS) is attractive and has effectively driven solar adoption among homeowners, the availability of NEM Rakyat is crucial, as it directly impacts how accessible the incentive is for homeowners. 

NEM Rakyat is designed to cater to domestic consumers with solar photovoltaic systems installed in their homes or residences. 

SolaRIS is an incentive that provides rebates of RM1,000 per kWac up to a maximum of RM4,000 to new NEM Rakyat users who submit their NEM applications to the Sustainable Energy Development Authority (SEDA) Malaysia on or after April 1 this year.

“Considering Malaysia’s National Energy Transition Roadmap (NETR), which aims for net-zero emissions by 2050 with 70 per cent installed capacity from renewable energy, incentives like SolaRIS for residential solar and Green Investment Tax Allowance for businesses would play a vital role. 

“Additionally, simplifying application processes for solar incentives would further encourage adoption across different sectors, particularly for smaller players who may find the current processes daunting,” he said.

On the other hand, Ko said the energy storage incentives such as Battery Energy Storage Systems (BESS) would help meet the demand for stable solar power, as major tech companies like Google and Microsoft are setting up data centres in Malaysia.

He said the ability to feed excess solar energy back to the grid under the CRESS programme would also benefit manufacturers by enabling them to purchase and rely on renewable energy sources. 

“Expanding access to these energy storage systems would encourage industries to reduce dependency on non-renewable energy while enhancing Malaysia’s capacity to attract global tech investments,” he said.

From their perspective as an industry player in the solar industry, Ko expects Budget 2025 to continue placing a strong emphasis on renewable energy, particularly solar, as a means to achieve Malaysia’s net-zero emissions goal by 2050. 

He also anticipates a progressive and comprehensive roadmap for the renewable energy sector, particularly concerning how solar can integrate with the national grid.

“In line with Malaysia’s sustainability goals, we hope the government would introduce policies that push for more widespread adoption, with a focus on reducing bureaucratic hurdles and more accessible incentives for everyone,” Ko said.

Prime Minister Datuk Seri Anwar Ibrahim will table Budget 2025 on October 18.

-- BERNAMA

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