How Solar Energy Can Increase the Value of Your Home in Malaysia
Imagine you are trying to buy a house, and have two options to choose from. Both of them need the same amount of electricity to run the household, however one receives a TNB bill of RM 600, and the other receives a RM 144 bill. Which house would you find more attractive?
This scenario may be relevant to you if you are a homeowner who would like to have the option of increasing the value of your property, just in case you want to move or purchase a better one for your future. You might even invest in properties, and are wondering how you can price them higher than the market rate. Well, if you are in any of these situations, then installing solar panels on your home may just be the right move for you.
Solar panels are becoming increasingly popular in Malaysia due to the 4-6 hours of sunlight we get everyday. This sunlight shines on our roof, and therefore can be harnessed to turn into electricity through a solar PV system. How does this reduce the inevitable TNB bills you receive every month?
The answer is through Net-Energy Metering.
Net Energy Metering (NEM) started as a government-led initiative to encourage electricity consumers to produce solar energy via a solar PV system for their own domestic use. If there is surplus energy generated, TNB will purchase it on a ‘one-on-one’ offset basis. This programme was first introduced in 2016 and relaunched as NEM 3.0 for the current phase (2021-2023). One of the components of this, is the NEM Rakyat Programme, which aims to lower electricity bills for residential premises, with excess energy exported to the grid and paid on a 1:1 basis. Not only are you supplying your own electricity, but the extra energy you generate goes back to TNB’s grid, for which you will receive a discount on your monthly TNB Bill.
The scenario introduced above undoubtedly creates a win-win situation for the property’s seller and the buyer. The seller can value their property at a higher price as they are placing a great benefit on the buyer. Although the buyer will need to spend a little more for the house, they will surely get a return on their investment since they still save up to 90% every month for the same amount of electricity.
Electricity cost: RM 600 per month
Due to the 4.4% annual increase in the increase of electricity tariff rates every year, the house owner will spend RM 316,530 over the next 25 years on TNB bills.
Electricity cost: RM 8 per month
With an investment of RM 47,000 on a solar PV system (11.78kW system), the house owner will save RM 592 every month and save a total RM 312,310 over the next 25 years.
That is a saving of over 98% on TNB bills!
Studies have shown that homes with solar panels installed can increase in value by up to 4% compared to homes without solar panels. This is because solar panels are seen as a valuable addition to the home. They are a sign that the home is energy-efficient and environmentally friendly. In Malaysia, where there is an increasing emphasis on sustainable living, homes with solar panels are becoming more and more attractive to potential buyers.
Finally, Solar panels have a lifespan of 25-30 years and require little maintenance. This means that once you have installed solar panels on your home, you can enjoy the benefits for many years to come. This is an attractive feature for potential buyers who are looking for a home that has already made this long-term investment.
Thinking of selling your home in the future? Why not invest now to:
- Enjoy savings of up to 90% on your TNB bill.
- Increase the value of your home.
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- How much you will save.
- How much you will spend.
- The best Solar PV system for you and your home.
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