Are Solar Panels Worth Installing?

Is it profitable to install solar energy for your home?

If you have a bit of free land or a nice wide roof on your house, why not put it to good use. Sure, there’s nothing wrong with letting it sit there too, but you might benefit from all that extra space, too.

According to the Ministry of Energy, Science, Technology, Environment and Climate Change, there are over 4.12 million buildings with solar rooftop potential in Peninsular Malaysia.

If each of these rooftops had rooftop solar panels, think of how much energy Malaysia could generate per year! Not to mention the amount of money you could save on the electricity bill.

How much will it cost to install?

Unfortunately, there is no easy answer when it comes to price. This can vary greatly depending on the size of the installation, the brand and quality of the solar panels installed, and the particular scheme or package you have chosen to manage the installation. Different companies may also have different prices.

A standard residential installation can range from 4kW to 12kW, with costs between RM16,000 to RM23,000 for a basic 3kW system. However, note that this is only a general estimate. Each individual supplier will have their own calculation and estimates on installation prices. You should be able to find a calculator on their respective websites to formulate a more accurate quote for your specific needs.

If you’re not sure where to start, here’s a list of a few solar panel suppliers to consider. This should give you an idea of ​​the price range and available services that come with the product.

  • Solar MAQO
  • Next energy
  • Solarvest Residential
  • More Xenergy
  • Solar energy
  • Verdant Solar
  • GSparx (subsidiary of TNB Renewable Sdn. Bhd.)

Some registered providers also offer solar panel “rental” options, allowing you to install them at a relatively low initial cost. Instead, you’ll pay the business over time, like a subscription to the service.

It is also worth checking with your banks for major green transactions. For instance, maybank has a solar financing program, allowing you to pay monthly installments for your solar panels and receive assistance with maintenance and warranties.

Other solar financing options include UOBs U-Solar Program which is aimed at both companies and individuals. UOB offers the possibility of paying for your solar package over 12, 18, 24 or 36 months with 0% interest with your UOB credit card.

If you are curious how you can find more suppliers to install solar panels in your home, the Sustainable Energy Development Authority (SEDA) The website has a useful directory that can help you.

How much electricity can you generate?

Before buying a solar panel in Malaysia, we will definitely need to determine a solar power system size that is right for you. To understand this, there are a number of factors that need to be considered.

1. Roof size

It goes without saying that the size of your roof will determine the number of solar photovoltaic panels that can be installed. The bigger the roof, the more panels you can install and therefore the more electricity you can generate. Generally speaking, a flat roof would be best as it can help maximize the amount of sunlight the panels will receive.

If your roof is tilted, it would be better to place the solar panels on the roof facing north or south. With proper design and planning, east and west facing panels can also be used. This ensures that the solar panels are in direct contact with sunlight for most of the day.

2. Electricity consumption

Another factor to consider is the amount of electricity your household uses. In order to maximize the benefits and reduce the costs, it is better to design the solar power system according to your electricity consumption. It would not be cost effective to install a solar power system that can produce more electricity than what you normally consume.

The Net Energy Metering (NEM) program allows you to sell excess energy back into the grid, but there is generally a limit to how much electricity you can offer to the program. As such, you may not want to install more solar panels than necessary.

3. Set your budget

The ideal number of panels for you to install is the one that matches your electricity usage and available roof space. However, the system should also be one that fits your planned budget. After considering the other factors above, you can use SEDA NEM Calculator to determine the estimated cost of your solar system. However, you should note that the calculator offers the minimum cost estimate provided by SEDA. Total cost will likely be higher depending on location, service provider, package offered, etc.

Note that regardless of the size of your solar system, electricity generation from solar panels will fluctuate depending on factors such as weather.

How much can you save by using solar panels?

While it is clear that installing solar panels can help you save money on your electricity bill, you must be wondering how much you can actually save if you opt for the NEM program?

For instance:

Total electricity produced

Flat rate (kWh)Consumption (kWh)Tariff (kWh)Amount (MR)
1 – 20000.2180.00
201 – 30000.3340.00
301 – 6001220.51662.95
601 – 900500.54611:30 p.m.
901 and following00.5710.00
Total17290.25

Source: SEDA, TNB

In your bill, you will first use the solar energy that you produce at home. If your solar panel system starts producing more than needed for use, the excess electricity will be sent to the grid and the meter will record the number of kW output. This is represented by the table of electricity produced. As you can see in the example above, the total of RM90.25 will be deducted from your bill

Why do you still need grid electricity?

If you are curious as to why you are still importing electricity from the grid despite having your own solar panels, it is because solar panels are not working at their maximum efficiency at all times, especially at night. Nighttime electricity use or changes in the weather will affect the amount of power your solar system generates and may cause your household to draw more electricity from the grid to compensate.

Moreover, the amount of electricity you can generate also depends on your installed capacity. As mentioned earlier, you can use the TNB NEM calculator to get a rough estimate of how many panels you need to give you your desired power output.

All in all, installing solar panels can be a great way to offset your long-term electricity bills. Just make sure you’re in a financially sound position to handle the upfront costs, and do your research to find the best deal possible.

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