Either way, it spells more affordable homeownership for Malaysians.<\/strong><\/p>\n\n\n\n Solar energy is already less expensive<\/strong> than new coal or other fossil fuel energy. Even relatively cool, cloudy, and wet countries are undergoing a solar revolution. <\/p>\n\n\n\n In Ireland, solar is the country’s fastest-growing renewable power source, with 500 houses connecting<\/span><\/a> to the grid every week.<\/p>\n\n\n\n Malaysia is much closer to the equator than Ireland, and strong solar irradiance makes solar even more viable here than in Europe. <\/p>\n\n\n\n The Malaysia Renewable Energy Roadmap estimates a potential for 42 GW of rooftop solar<\/strong> in the country.<\/p>\n\n\n\n That is well over twice the 17 GW potential<\/strong> for floating solar configurations.<\/p>\n\n\n\n The government aims for 70% of energy generation capacity by 2050 to be renewable. And it’s not just for feel-good climate reasons. <\/p>\n\n\n\n A report from the Ministry of Natural Resources, Environment and Climate Change found that using more renewable energy will save Malaysia as much as US$13 billion<\/a><\/span> annually by 2050.<\/p>\n\n\n\n The savings work out to an equivalent of about RM1,800<\/strong> for every one of today’s Malaysians, at current exchange rates.<\/p>\n\n\n\n Renewable energy already accounts for 16 per cent<\/strong> of total electricity generation, but most of that comes from hydroelectric installations.<\/p>\n\n\n\n Building new damns takes longer and is more expensive than putting panels on your home’s roof. <\/p>\n\n\n\n It is also difficult to find sites appropriate for new hydroelectric plants, but there are more than 5.7 million residential properties<\/a> <\/span>in the country. Most of these have roofs suitable for solar.<\/p>\n\n\n\n I recently read about a petrol station manager named Peter Wong who had trouble affording his electricity bill of RM280 per month.<\/p>\n\n\n\n “My house has three air-conditioning units and during the MCO, and also during the heat wave, we would keep them turned on for longer hours,” he told the Malay Mail<\/a><\/span>.<\/p>\n\n\n\n Instead of going broke, Wong installed 10 solar panels on the roof of his double-storey terrace house in Georgetown, Penang. Most months, he now pays nothing for electricity.<\/strong><\/p>\n\n\n\n For Malaysia to achieve its renewable energy goals, more people need to follow Wong’s example and put solar panels on their roofs. That is becoming easier than ever.<\/p>\n\n\n\n A few months ago, Malaysia announced that its National Energy Transition Roadmap would help more households save money by installing solar.<\/p>\n\n\n\n “In every home, we intend to give households the option to lease out their rooftops in return for a monthly income that could lower their electricity bills and put more cash in their pockets<\/a><\/span>,” said Economy Minister Rafizi Ramli.<\/p>\n\n\n\n Because solar installations cost less when built at scale, the programme will start by working with the developer of a new township near Kuala Lumpur. <\/p>\n\n\n\n The developer will install solar panels on 450 homes in the township, generating an estimated 4.5MW of power<\/strong> per year. <\/p>\n\n\n\n The project will cost the government nothing and will even earn a tidy monthly payment for the township’s new homeowners.<\/p>\n\n\n\n Homeowners who want to install solar on a property they already own can easily finance the installation.<\/p>\n\n\n\n That’s because banks find it easy to predict the financial return you will receive from the panels, so they consider the financing a safe bet.<\/p>\n\n\n\n Clean energy won’t just save the country billions of Ringgit. It is also already creating opportunities for Malaysians to get rich working in the sector or helping fund new projects.<\/p>\n\n\n\n The country’s energy transition could create opportunities for private companies to invest as much as RM1.85 trillion by 2050. Those investors will expect to earn a high return on their money.<\/p>\n\n\n\n For small scale projects, such as installing 10 panels on the roof of your home, you can earn back the cost of the panels in four to six years<\/a>.<\/span> (The exact payback period depends on a variety of factors.)<\/p>\n\n\n\n Even after they have paid for themselves, your solar panels will continue to earn you money. And, they can ensure you have energy during a blackout.<\/p>\n\n\n\n When our team sells a subsale property that has solar panels installed, buyers are willing to pay a higher price for it. <\/p>\n\n\n\n Buying a home with solar panels is common sense for homebuyers. From what I see in the real estate market, I believe we will reach the government’s goal of 70% renewable energy generation well before the 2050 deadline.<\/p>\n\n\n <\/strong><\/span><\/p>\n\n\n\nThe Green Energy Future Is Inevitable<\/h2>\n\n\n
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<\/figure>\n<\/div>\n\n\nIt’s Already Happening<\/h2>\n\n\n
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<\/figure>\n<\/div>\n\n\nBuyers Already Prefer Green-Power Homes<\/h2>\n\n\n
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