Solar Leasing in Malaysia
Solar Panels Installation in Malaysia
There are many ways to add solar panels to your home. Most of them involve hiring a good contractor to design and install a system on your roof. And, unfortunately, most of them involve spending a lot of money “up front” on the system and installation. Fortunately in Malaysia, there are rapidly-evolving alternatives that bring the initial cost of the system down to something much more affordable, and even some that offer spending nothing up front.
What is Solar Leasing?
Solar leasing is similar to leasing/renting a car to drive, without the need of you actually paying for the cost of the vehicle. Solar panel leasing lets you lease solar panels to generate electricity. You may also hear it referred to as other terms such as solar financing, solar power purchase agreements, or solar rental programs. A solar lease will typically include maintenance and repairs, system monitoring, insurance, and a roof penetration warranty. You are essentially paying a fixed monthly amount to use the energy generated by the solar system on your roof.
How Does Solar Leasing Work in Malaysia
- You contact a Solar Leasing Program provider such as MAQO Solar or any other provider. The provider comes to your home to determine if it qualifies for their program. They evaluate sun exposure, roof angle and access issues.
- If your home is right for solar power, the company usually collects a deposit, and asks you to sign an agreement for 10-20 years. In some cases, depending on local solar incentives, the provider may not require any money at all. That’s right! Your system could be FREE. Some leasing programs also provide an easy transition to a new homeowner, should you choose to move.
- The provider hires the installer and oversees the installation. They also manage all system maintenance and warranty issues for the life of the contract.
- The provider collects any and all utility incentives and tax breaks.
- You immediately start seeing benefits in the form of lower electricity bills. Essentially, the solar leasing company is selling you power at a reduced rate, generated from the newly installed solar panels. Savings vary from 5%- 25% on monthly electricity bills.
- Here’s where it gets really good: Your power rates with the leasing company are locked in for the life of the agreement. So when utility rates start to rise (and they most definitely will), your rates stay the same and your power savings will really take off.
- As an added benefit, you get the satisfaction of generating clean, renewable energy while helping the planet.
What are the Qualifications Required for the Solar Leasing Program?
- You live in an area with great solar incentives (basically all areas in Malaysia).
- You have a large space on the roof that is clear of obstructions for solar radiation.
- You have a desire to save money and help the planet at the same time.
So How do I Find a Provider?
As mentioned above, you can contact MAQO Solar or search for any other service provider across the Internet. If you are interested in the services provided by MAQO Solar, you can kindly contact them at their website or give them a call at +603-8069-1706.
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