PUTRAJAYA: Alliance Bank Bhd has taken on first mover's risk by providing loans to individuals wanting to install solar photovoltaic (PV) panels at their homes.
The bank yesterday launched the Home Complete Plus Solar Panel Financing, in collaboration with Sustainable Energy Development Authority (SEDA).
Based on market trend, the average price of PV system for household is about RM8,000 to RM10,000 per kilowatt (kW).
Installing a typical 4kW system on a medium-sized house will cost around RM40,000 to generate 400kWh of electricity.
Since the implementation of the Feed-in Tariff mechanism in December 2011, which pays consumers monthly for energy sent back into the national power grid, the solar PV sector has been robust going by 1,297 applications approved by SEDA as of April.
"This number might look small, but it actually translates into 1,079 individual rooftops in Malaysia and this is a significant increase, compared to a little more than a hundred houses in 2011," said Energy, Green Technology and Water Minister Datuk Seri Dr Maximus Ongkili at the launch.
Many are put off from installing PV panels given the high cost and difficulties in obtaining loans.
Read more: Alliance offers solar panel loans http://www.btimes.com.my/Current_News/BTIMES/articles/SEDA/Article/#ixzz2X4vfHpmB
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