Vestech Energy to support adoption of home solar panel, sustainable living

The company will be providing landed house homeowners with direct access to a clean energy source as well as support their solar adoption rate

by NURUL SUHAIDI / pic courtesy of Solarvest

SOLARVEST Holdings Bhd’s subsidiary Vestech Energy Sdn Bhd would be focusing on providing solar solutions to the residential segment.

Vestech will serve homeowners’ needs with direct access to a clean energy source as well as support their solar adoption rate.

Solarvest ED and group CEO Davis Chong Chun Shiong said the group has been getting high demand for solar photovoltaic (PV) system following the trend of sustainable living.

“This targeted focus in the solar residential market will complement our commercial and industrial and utility-scale solar services,” he said.

Through Vestech, Solarvest has launched six EcoHome solar plans tailored for landed house homeowners with average monthly electricity bills starting from RM300 and above.

The EcoHome solar plan comes with solar system size ranging from 4.5 kilowatt-peak (kWp) up to 12.6kWp.

Each of the plans provides long-term cost-saving solutions with savings of up to 90% on electricity bills.

“We believe consumers are more open to ways of cutting their expenses, and the installation of solar PV panels is an attractive method to do so especially for those living in landed properties,” Chong said, adding that they are targeting to achieved 2,000 residential solar projects nationwide per year regardless of the solar plan system size.

Ultimately, the company also aims to maintain a leadership status within the engineering, procurement, construction and commissioning market in all three segments.

Under the Net Energy Metering Rakyat scheme, introduced by the Sustainable Energy Development Authority, there are still 51.9 megawatts (MWac) of quota currently available.

Vestech is targeted to potentially attain an installation of 2,000 residential solar projects per year.

To encourage the adoption, it also offers attractive financing facilities such as the zero upfront payment solution that removes the cost entry barrier.

 “In addition, we are planning to encourage the adoption of solar energy by expanding the coverage of Powervest, our solar financing platform, to domestic users in the future,” Chong said.

He added that this clean energy resource will enhance greatly to country’s mission toward net zero emission.

Moving forward, Powervest plans to extend its financing solutions into its overseas ventures in five Asean countries and Taiwan.

“This strategic plan will contribute positively to our efforts in expanding our market presence in these growing economies,” Chong concluded.

Other clean energy specialists and solar panel providers in the country include Plus Solar System Sdn Bhd, SOLs Energy Sdn Bhd and ERS Energy Sdn Bhd.