In a landmark move towards sustainable energy, SOLS Energy, a leading cleantech startup in Malaysia, has introduced its pioneering 'Home Solar Subscription Program', revolutionizing the nation's solar energy landscape. Founded in 2015 and funded by Petronas Ventures in 2020, SOLS Energy has been spearheading efforts to promote renewable energy adoption across the country.
The innovative program represents a significant milestone, offering homeowners a simplified and accessible pathway to embrace solar energy like never before. By addressing financial barriers, SOLS Energy covers the entire upfront installation costs, allowing homeowners to adopt solar energy without facing initial financial burdens.
The key highlight of the program is its avoidance of credit card or loan financing, ensuring subscribers do not incur debt. Moreover, participants receive a complimentary 20-year solar PV hardware warranty, ensuring reliability and peace of mind.
Setting itself apart from traditional solar initiatives, the 'Home Solar Subscription Program' boasts immediate payback periods, mitigating the lengthy waiting periods typically associated with recovering initial investments. 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 guarantees stability and predictability in energy costs, providing a compelling economic rationale for homeowners to transition to solar power.
Raj Ridvan Singh, the Founder-CEO of SOLS Energy, expressed the company's commitment to sustainability and a brighter future. Singh emphasized the importance of revolutionizing the accessibility and affordability of solar energy, stating, "Through our Home Solar Subscription Program, we're breaking down barriers to solar adoption. By embracing solar energy, homeowners not only seize control over their energy consumption but also play a pivotal role in driving positive environmental change".
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 program 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 personalized installations with in-house installers who provide advice tailored to the needs of each home. This commitment to personalized 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", stated Raj. "By encouraging the adoption of solar energy, the program aligns with Malaysia's goals of achieving a greener and more sustainable energy ecosystem".
Backed by Petronas, SOLS Energy emerges as a trailblazer in sustainable energy solutions in Malaysia. With a commitment to transitioning 285,000 Malaysian households to green energy, SOLS Energy remains aligned with Malaysia's overarching net-zero aspirations.
Noteworthy achievements 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.
SOLS Energy's 'Home Solar Subscription Program' marks a transformative step towards sustainable energy adoption in Malaysia, offering homeowners a seamless and financially viable pathway to embrace solar power and contribute to a cleaner, greener future.