SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model

By Sustainability Matters March 19, 2024

Covers entire upfront installation costs, removes initial financial burden barrier
Fixed tariff rate of RM0.46kWh for next two decades, compelling economic value

A residential solar installation in progress.

Spearheading a paradigm shift towards sustainable energy, greentech startup, SOLS Energy, one of the nation's leading home solar installers introduces its groundbreaking 'Home Solar Subscription Program', a pioneering initiative in Malaysia's solar energy landscape. Founded in 2015, SOLS Energy was funded by Petronas Ventures in 2020.

This innovative programme marks a significant milestone, offering homeowners a simplified and more accessible pathway to embrace solar energy like never before.

In a move to reshape the landscape of solar energy utilisation in Malaysia, the Home Solar Subscription Program has been introduced with the primary goal of fostering widespread adoption of solar power among Malaysian households. By addressing financial barriers, the programme covers the entire upfront installation costs, enabling homeowners to embrace solar energy without facing initial financial burdens.

One of the key benefits of the programme is its avoidance of credit card or loan financing, ensuring subscribers do not incur debt. Subscribers also receive a complimentary 20-year solar PV hardware warranty, providing peace of mind and reliability.

Distinguishing itself from conventional solar initiatives, the 'Home Solar Subscription Program' boasts immediate payback periods, mitigating the lengthy waiting periods typically associated with recovering initial investments. Notably, participants benefit from a fixed tariff rate of US$0.09 (RM0.46) per kilowatt-hour (kWh) for the next two decades, offering potential savings compared to the current national grid tariff of US$0.12 (RM0.57) kWh. This fixed rate ensures stability and predictability in energy costs, presenting a compelling economic rationale for homeowners to transition to solar power.

SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model “At SOLS Energy, our dedication to empowering individuals on their path towards sustainability and a brighter future is unwavering," declared Raj Ridvan Singh (pic), founder-CEO of SOLS Energy. "That's precisely why we are revolutionising the accessibility and affordability of solar energy for all. Through our Home Solar Subscription Program, we're breaking down barriers to solar adoption. This programme simplifies the entire process, providing homeowners with a seamless transition to solar power. By embracing solar energy, homeowners not only seize control over their energy consumption but also play a pivotal role in driving positive environmental change. They stand to save substantially while paving the way for a cleaner, greener future for generations to come."

With a proven track record of 14MW worth of solar installed since 2016, SOLS Energy stands as the No. 1 home solar company in Malaysia with over 1,800 home solar installations. The programme has resulted in annual electricity bill savings of US$2.84 million (RM13.4 million) for customers and carbon avoidance equivalent to planting 418,500 trees.

SOLS Energy offers personalised installations with in-house installers who can provide advice based on the needs of each home. This commitment to personalised service sets SOLS Energy apart and ensures that each homeowner receives the best solar solution for their needs.

“The Home Solar Subscription Program contributes to a more sustainable future by reducing reliance on fossil fuels and lowering carbon footprints. By encouraging the adoption of solar energy, the programme aligns with Malaysia's goals of achieving a greener and more sustainable energy ecosystem,” said Raj.

SOLS Energy, backed by Petronas, emerges as a trailblazer in the realm of sustainable energy solutions in Malaysia. With a commitment to transitioning 285,000 Malaysian households to green energy by 2035, SOLS Energy remains steadfast in its alignment with Malaysia's overarching net-zero aspirations.

Noteworthy achievements to date include providing energy access to over 1,400 B40 Orang Asli households and empowering more than 600 individuals from the B40 indigenous community through its solar academy where they are now earning between RM2,200 to RM4,000 per month.