Businesses are increasingly looking to save more in electricity bills these days as their operations grow. Therefore, exploring solar energy for factories, buildings or offices is a viable option that also aligns well with our nation’s sustainability goals.
Interest in solar panels has been growing; however, two reasons hold prospective customers back from making the crucial decision to adopt solar solutions – the first, being upfront costs, and the second is a lack of understanding on how the scheme works and concerns regarding maintenance.
GSPARX, a fast-growing subsidiary of Tenaga Nasional Berhad (TNB), backed with 72 years of experience in the electricity industry, is addressing these issues head on with their solar and renewable green energy solutions.
While there are many vendors offering attractive solar energy solutions either as installers or investors, GSPARX supports and provides easier and higher adoption of solar with their zero-capital expenditure (capex) offering. With this payment solution, industrial and commercial customers as well as government bodies are not required to provide any capital to enjoy the cost saving benefits of solar energy.
It offers high service quality installation with stringent safety practices and reliable maintenance throughout the lifespan of their solar solutions up to 25 years and more. GSPARX’s technical team is selected and trained to meet the highest safety standards and regulations. GPSPARX gives their assurance that installations are safe and will not become a safety hazard to customers and their premises.
Says En Elmie, MD, GSparx, “GSPARX aspires to be the market leader and the provider of choice for rooftop solar solutions and beyond. Our offering will also cover other related green solutions such as the energy storage system. There is definitely a bright and promising future in this segment and GSPARX plays a vital role to bridge the financial gaps to help accelerate the uptake of solar. With our financing capability, expertise and experience, we bring in a hassle-free solar journey to our customers.”
Implementing this solution for commercial, industrial and government bodies, the solar solution provider will finance, design, install and maintain customer’s solar photovoltaic (PV) system for a fixed contract period. A solar PV system is composed of arrays of solar panels combined with the inverter(s) and wiring that use energy from the sun to generate electricity. With the Net Energy Metering (NEM) scheme, TNB will change the existing meter to NEM meter that is able to read bidirectional flow of electricity to/from TNB grid to the premise.
Currently, customers can enjoy savings via a lower solar tariff, compared to the usual TNB electricity tariff, and the solar tariff is fixed throughout the contract period. In this way, GSPARX provides a risk free and hassle-free solution for commercial property owners to have solar as an alternative to conventional electricity supply.
GSPARX is focused in offering green energy solutions for businesses with long-term environmental sustainability goals that are in line with the Malaysian government’s vision to seek eco-friendly power sources such as solar energy that can support a common low carbon future.
Green Adoption
One example of successful implementation by GSPARX under TNB happened in September 2019, which was sealed by a Supply Agreement for Renewable Energy (SARE) with Mydin Mohamed Holdings Bhd (Mydin Holdings) to install solar PV panels on the rooftop of Mydin Mall Manjoi in Ipoh, Perak.
The 324kWp solar rooftop PV generates up to RM3.24 million in electricity bill savings within the project’s 25-year contract duration.
On another successful project, GSPARX worked with Majlis Bandaraya Ipoh (MBI) to install a 530kWP solar PV system on the roof of UTC Perak to support the power requirement. Through GSPARX zero capex solution, MBI could save RM2.5million in a period of 21 years. This is equivalent to 480 metric tones of Carbon Dioxide offset annually.
For now, GSPARX is offering zero capex to non-domestic customers, while for the residential segment, they are currently looking at the feasibility of offering the same instalment plan soon. Alternatively, for residential customers, there are attractive packages with multiple payment options such as zero interest in credit cards and loans. Currently, GSPARX is collaborating with Maybank for mortgage loans and Bank Islam for personal financing at very attractive rates. They are also in talks with many other financial institutions to make solar more affordable and accessible for everyone in Malaysia.
RECs & mGATS
To further support the green agenda of commercial, industrial and government bodies, GSPARX’s rooftop solar solutions can be further complemented with Renewable Energy Certificates (REC), which is globally recognised as a tool to enable companies to purchase renewable power in a transparent and credible way.
RECs offer a clear value proposition to two parties. For project developers, they generate additional revenue for each MWh of renewable energy they produce. For corporate buyers, they are essential to meet their sustainability targets, globally. The sale of RECs is handled by TNBX Sdn. Bhd., another wholly owned subsidiary of TNB. TNBX collaborates with leading REC platforms approved by all major standards and campaigns such as CDP, WRI and RE100.
Buyers can also subscribe to mGATS, Malaysia Green Attribute Tracking System, launched in October 2019. It is a platform that enables interested buyers to purchase RECs generated in Malaysia. mGATS aims to support the green agenda of companies who are looking for a different means of achieving renewable other than solar solutions.
Another easier way for customers to achieve their green targets is on a subscription basis through green tariffs via TNB myGreen+ scheme. Introduced in October 2019, this scheme enables customers to purchase green energy without having to install their own solar rooftop or other renewable energy installation. Instead, they can opt to subscribe to this scheme in 100 kWh blocks at a special tariff subscription rate on top of the base tariff structure.
myGreen+ is a premium scheme introduced as an option for customers who are interested in buying green energy. Customers with myGreen+ subscription will pay the normal tariffs for monthly electricity consumption PLUS myGreen+ blocks subscription.
Subscribing to myGreen+ can means supporting the environmentally friendly and green agenda by being able to meet sustainable targets, offsetting carbon credits, and to cultivate a green (“eco-friendly”) brand image with the issuance of myGreen+ Subscription Certificate by TNB.
“For organisations looking for sustainable energy options, choosing green energy solutions can go a long way towards supporting the sustainability goals of Malaysia.”
