Solar industry faces adverse slowdown without fresh incentives: Solaroo chief
KUALA LUMPUR: Malaysia’s solar industry could slow sharply next year if the government does not clarify incentives beyond the current schemes, an industry player warned.
Malaysia's solar industry faces a potential significant slowdown next year if the government fails to clarify future incentives, warned Solaroo Systems co-founder Johann Sze. The government's current incentives, such as a RM3,000 residential rebate under SuRIA Home, have encouraged solar adoption, but these rebates could cause market delays as consumers and businesses wait for them before investing.
When these rebates expire by 2026, Sze warned, the market could suffer. Balancing incentives and investment conditions is crucial for sustaining solar growth, said Sze, as Malaysia's electricity demand, driven by data centres, EVs, and wider electrification, is expected to rise from 21GW in 2022 to 35GW by 2035.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
