OUR DREAM IS TO MAKE RENEWABLES THE MAINSTREAM

Making a Difference

Why Solar?

Thinking of ways to save money?

Ever considered starting from your electricity bills? With solar panels, you would be able to save lots on energy bills.

With reference to TNB’s website, TNB sells electricity ranging from 20 to 60 Sens per kWh depending on your electricity usage.

The useful life of a solar panel is measured accordingly to the amount of electricity produced. On average, a solar panel would lose 10 Sens per kWh of electricity produced.

Attractive incentive for corporates

The government is actively promoting renewable energy by providing fiscal redemption of corporate tax, namely Capital Allowance & Investment Tax Allowance, implemented by MIDA. If your corporate tax falls in the 24% tax bracket, the government actually absorbs 48% of this PV investment cost. (24% for ITA and another 24% for CA). This simply means you are paying 52% of the total PV project cost.

Investment Tax Allowance

According to MIDA, the Investment Tax Incentive is entitled for 100% qualifying capital expenditure (QCE). It can be utilized to offset against 70% of statutory income, any balance to be carried forward to the subsequent year of assessments until fully taken up.

Capital Allowance

PV projects are eligible for another 24% cost reduction by means of Capital Allowance. For the PV project, the qualifying expenditure is categorized under Plant & Machinery which could be redeemed for 20% in the first year, and 14% at subsequent year until it is fully taken up too.