KUALA LUMPUR: Verdant Solar Sdn Bhd anticipates healthy double-digit year-on-year growth for residential and commercial solar markets, boosted by continuous government support through stronger incentives for adoption of the renewable energy source.
The company sees this growth driven by a significantly shorter return-on-investment period, making solar an increasingly attractive investment for both segment markets.
CEO Zeth Lim said tax incentives for commercial and industrial sectors and the Solaris rebate for homeowners have significantly accelerated solar adoption.
“Government initiatives such as the Net Energy Metering Scheme, Selco (self-consumption), Corporate Green Power Agreement and the Corporate Renewable Energy Supply Scheme further support the industry’s growth. Additional improvements – such as faster approval processes, consistent policy frameworks, enhanced incentives and increased quotas – could propel industry adoption further,“ he told SunBiz.
When asked about the most effective strategies driving adoption, Lim said the company continues to expand its dedicated team, customers and banks on strong partnerships.
“We continuously invest in our people, technology, and processes to make solar adoption simple and accessible. As we expand, we strive to source talent and resources from local communities, directly creating employment and enhancing workforce skills in renewable energy.
“Additionally, we are also committed to forming meaningful local partnerships to cultivate greener, sustainable cities throughout Malaysia.”
Verdant Solar recently launched the Verdant Home App, which streamlines customer communication, speeds up processes and provides clarity at every step. “Moving forward, we plan to expand into new regions to sustain and accelerate this positive momentum,“ Lim said.
According to Modor Intelligence, the Malaysian solar energy market is expected to register a compound annual growth rate greater than 9% during the 2025-2030 forecast period.
The report noted that factors such as the increasing investments in the renewable energy sector and the country’s efforts to shift from fossil fuel-based power generation are expected to drive the market during the forecast period.
However, high initial investment costs associated with solar projects are expected to hinder market growth during the study period.
Nevertheless, Malaysia aims to install 9GW of solar energy capacity by 2050. Therefore, the country’s ambitious solar energy targets and business models, such as solar leasing, are expected to create many opportunities in the near future.
While Verdant Solar remains primarily focused on residential solar solutions, Lim said the company has expanded into the commercial and industrial market since 2024, aligning with the increasing corporate demand for sustainability.
“We constantly explore opportunities to contribute to Malaysia’s clean energy transition actively. Currently, our primary focus remains on expanding solar adoption, as there’s still significant growth potential in this area.”
Replying to a question on Verdant Solar’s upcoming battery energy storage system (BESS) to enhance energy reliability and affordability for Malaysian consumers, Lim said the company’s BESS will significantly enhance energy reliability by allowing homeowners to store excess solar power for peak usage or during outages.
“This reduces dependency on the grid, lowers electricity bills, and shields consumers from rising energy costs.
“Our long-term vision is to see solar panels installed on every rooftop in Malaysia. We also aim to expand regionally starting in 2026 and welcome collaboration with global renewable energy players who share our goal of creating a greener and more sustainable future,“ he said.
