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Alliance Bank Solar Financing Scheme Below Had Ended & We Have New Commercial & Residential Solar Financing Options.
There is a great announcement for Malaysian homeowners who wants to have solar PV panels installed. Alliance Bank Bhd, considered to be one of Malaysia’s top banks, now offers loans for homeowners for their solar PV panel installation project. The bank has collaborated with SEDA Malaysia in launching the “Home Complete Plus – Solar Panel Financing” Project last June 16th, 2013. it is the first in the country to offer such mode of loan servicing with low interest rates.
The Alliance Bank Bhd offers up to 90% of financing for qualified applicants. The bank also extends its financing choices to individuals who chose to do Green Technology integration for their homes. With the introduction of this alternative solution, it supports the participation in the Green Movement by persuading individuals to effectively manage the consumption of their service.
Because of the costs involved in installation and the difficulty to obtain loans to get the project done, there are many homeowners who delayed their installation project. Typically, it costs around RM50,000 for a 5 kW system. An average homeowner’s financial capability may not be able to meet the costs required. The Alliance Bank Bhd’s solar panel financing open the doors to encouraging more organizations in promoting solar panel usage for various residences.
Ever since the implementation of the Feed-in Tariff in December 2011, the SEDA Malaysia has approved 1,297 applications in the solar PV sector. Although the number may appear to be small, it actually shows that 1,079 household rooftops have solar panels installed with a relative growth rate compared to the more than a hundred houses during the year 2011.