Are EVs the future or merely a niche market? - Asia Times

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The automotive industry is at a very challenging time in its history. How can it predict the future?

Digital technology ‘ technological miracles have occasionally become brand-new consumer goods and services. And what is most impressive is how fast they have come to be regarded as requirements.

Consider in the past few decades colour television, personal laptops, flat panel displays, wireless connections, digital photography and photo store, LED light sources, contact and internet-based services.

In each case, it took a few years for these innovations to become widely used, a state where record is immediately forgotten. Who remembers 35mm film cameras, light bulbs or Television devices with cathode ray tube? Or 78rpm files?

A world where such significant innovations are immediately accepted as normal also encourages the anticipation of fresh markets created by innovations and the anticipation that like markets may be immediately accepted to the point of establishing significant fresh industries.

If the business size advancements do not match expectations, investing in for future markets calls for significant amounts of capital and opportunities for great profit or loss. This funding issue is currently facing the automotive industry.

Planning is a significant challenge for market planners and investors because the more capital and architectural investment are needed, the bigger the expected market opportunity.

Industrial managers have been ruined by historical instances in which new electronic products eventually replace the outdated people 100 % of the time.

This essentially occurred with light, video displays, and digital cameras, where the rates of new devices dropped as sales volume increased to the point where older products became ineffective in a short period of time.

The success of the new products was based on outstanding performance, reliability, size and freedom.

However, it is too easy and dangerous to foresee that all new electronic devices will just completely replace older ones. This is not always a safe assumption, according to two recent examples: autonomous consumer vehicles and electronic vehicles ( EVs ).

Customer concerns persist over the safety of intelligent consumer vehicles in general traffic despite billions of dollars in investment.

Basic problems impede the mass deployment of self-driving cars, and until they are overcome, for vehicles will be niche machines used in controlled environments.

EVs that quickly found a market in the past few years saw a decrease in battery and production costs as well as improvements in technology and higher production rates. This opens up a bigger opportunity.

In the United States, EVs have quickly grown to account for 8 percent of all car sales in the last quarter of 2018, up from 2 % to 2 %. 1 % in the last quarter of 2023.

In the near future, in the next ten years or less, EVs will be largely replaced by internal combustion engines, according to this advancement.

Then, sales growth slowed, and this presumption is being tested. The Wall Street Journal published a feature article earlier this month that outlined the negative impact the EV industry leader had had on the company.

Is the decline in sales merely a temporary phenomenon or a result of consumer concerns? Did EV sales in 2024 decline as a result of consumers ‘ concerns about the inherent drawbacks of EVs, such as the need for battery chargers and the decline in performance at cold temperatures?

Many potential customers opted to buy conventional cars or new hybrid vehicles with some of the economic benefits of EVs without their handicaps, believing that their advantages were offset by handicaps that made them unattractive as family cars.

Are EVs a niche market or a complete replacement for conventional cars with combustion?    

The decline in sales may be a temporary blip or a result of growing consumer skepticism. Time will tell, but uncertainty will leave manufacturers making difficult and costly decisions.

Industrialists had to make difficult choices as a result of the pace of large-scale technological innovations. None of the above come to mind, though, considering the serious economic repercussions of making the wrong choice for automakers.

Dr Henry Kressel is a technologist, inventor with many pioneering contributions, author and long term private equity investor in technology companies.

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ACE listed Systech acquires Wilstech, giving 3X return to ECF investors

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  • Next ECF return for Ata Plus after 2019 return of Skilafund
  • US$ 15m merger consists of US$ 4.2m money &amp, US$ 11.6m in stock

ACE listed Systech acquires Wilstech, giving 3X return to ECF investors

Bursa Malaysia has granted the approval to Systech Bhd, a company listed on the ACE Market, to acquire Wilstech Sdn Bhd, for a total purchase consideration of US$ 15.82 million ( RM75 million ) consisting of RM20 million in cash and RM55 million via the issuance of 152, 777, 777 Systech shares. Wilstech, an IT solutions provider, raised UD$ 316, 400 ( RM1.5 million ) through an equity crowdfunding (ECF ) campaign with Ata Plus Sdn Bhd in Sept 2020 at a RM25 million valuation.

Ata Plus applauds the merger as a testament to the utility of ECF as a viable investment platform for businesses with high-growth potential. This is the second Ata Plus ECF leave. The second return in 2019 was a corporate merger of Skolafund, a societal impact business.

]RM1 = US$ 0.211]

” Since 2020, I’m proud to say that we have grown from strength to strength. ECF funding “undoubtedly played a significant role in our development trip,” according to Wilson Low, founder and CEO of Wilstech, “particularly in our product development, business growth, and consumer acquisition.”

Nowadays, Wilstech specialises in business- to- business ( B2B ) IT options, IT infrastructure, IT management and offshoring and the offer of IT equipment. Its users span across the open market, GLCs, corporates and SMEs.

Since its ECF investment practice, Wilstech has experienced remarkable growth in both revenue and profit. The yr- on- time revenue growth for 2020/21 and 2021/22 are 146 % and 167 % between, whilst the Income- After- Duty is 113 % and 199 % both for 2020/21 and 2021/22. From an 8- person firm in 2020, it has grown to 40 team in 3 times. We are appreciative of the trust and confidence that ECF investors have in us and the support the Malaysian government has received from the MyCIF ( Malaysia Co-Investment Fund ) program. I am delighted to be able to offer good results to our shareholders, especially the ECF owners. Without their unwavering belief and aid, we would not have achieved the status we hold today”, Wilson added.

ECF offers investors exposure to a wide array of substantial- development companies spanning across different industries, such as technology, care, F&amp, B, agriculture, greentech, education and consumer goods. This growth, coupled with the high profit potential, makes ECF an interesting purchase avenue. ECF was created by the Securities Commission to give retail investors the opportunity to invest in and take advantage of the expansion of promising companies through regulated ECF platforms like ATA Plus. Investors should be aware of the risks involved and conduct thorough assessments before investing, despite platforms like ATA Plud conducting thorough due diligence, disclosing pertinent information and the terms of the companies listed on its platform.

ACE listed Systech acquires Wilstech, giving 3X return to ECF investorsThe success of Wilstech’s acquisition is a testament to the power of ECF in guiding businesses to success. Through ECF, the money that Wilstech raised helped it meet its business objectives and ultimately draw in a larger, established player like Systech. This success story underscores EC F’s value for investors and entrepreneurs alike”, said Elain Lockman ( pic ), Ata Plus ‘ CEO and co- founder.

With Systech’s acquisition of Wilstech as a prime example, ECF emerges as a promising investment avenue for portfolio diversification through curated high-growth ventures. Regulated platforms like Ata Plus provide access to such opportunities, fostering SMEs and startups and bolstering the nation’s economic growth. Visit Ata Plus at www.ataplus.com for more information about ECF and to learn about exciting investment opportunities. ata- plus.com.

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EdgePoint, Celcom Timur partner to enable connectivity services throughout Sabah 

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  • CT Sabah to join its network with EdgePoint’s equipment at 50 sites&nbsp,
  • For wireless network operators&nbsp, EdgePoint can collaborate to provide fiberized structures.

EdgePoint, Celcom Timur partner to enable connectivity services throughout Sabah 

EdgePoint Towers Sdn Bhd, a division of EdgePoint Infrastructure, an ASEAN- based separate communications infrastructure firm, has partnered with Celcom Timur Sabah ( Pet Sabah ) to provide final- hour system, as part of their commitment to enhancing communication in East Malaysia.

Through this agreement, CT Sabah may join its core system with EdgePoint’s communications system at an estimated 50 sites in Sabah. By connecting existing and upcoming buildings across the position to CT Sabah’s fiber system, EdgePoint will also be able to provide full fiberized structures to cellular network operators.

Muniff Kamaruddin, &nbsp, CEO of EdgePoint Towers Sdn Bhd stated, “EdgePoint is pleased to announce our engagement with Celcom Timur Sabah to&nbsp, focus on providing reliable&nbsp, connection through final- hour system. By combining the advantages of CT Sabah and EdgePoint, we are able to create a strong digital infrastructure that will make Sabah’s citizens feel connected. This aligns with our commitment to advertise online equity in our nation and support national digitalization efforts.

However, Zurinah Datuk Hanafiah, CEO of Celcom Timur Sabah shared, “CT Sabah looks forward to this cooperative relationship with EdgePoint, recognizing the common disadvantage of leveraging each other’s knowledge. This partnership will help CT Sabah’s continued efforts to expand communication throughout the province. However, it will accelerate the development of modernization, fostering development and innovation within the territory”.

EdgePoint now owns 1500 places in Malaysia, out of which 71 are in East Malaysia.

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Essential air, sea and land transport operators could be subject to more controls under new draft law

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Under the proposed modifications, designated companies may face three sorts of controls, said MOT’s director. &nbsp,

Ownership controls may keep track of changes to their successful control” to protect against adverse influence.” &nbsp,

For instance, depending on the amount, buyers and sellers may need to notify the authorities or request acceptance, and designated companies must do so within seven days after learning about these ownership and control changes. &nbsp,

The spokesperson added that the “principally accountable” for the management of the designated companies will be in good health and no “inimical to national interests” as a result of the suggested controls over management meetings. &nbsp,

In accordance with the proposed policy, designated entities will need to obtain consent from the appropriate authority before appointing their CEO and board chair. If the designated institution is also a certified operator, this also applies to the managers of the board, the spokesperson said.

Public transportation operators licensed under current laws previously need LTA’s approval before appointing their CEOs and boards.

The MOT director said that designated entities will need to inform the appropriate specialist of events that “materially restrict or affect” the provision of essential travel services in Singapore if the Bill is passed. &nbsp,

These procedures or resourcing controls will make sure that designated organizations have the resources and abilities necessary to offer travel services, they continued.

If the Bill is passed, the Transport Minister, upon application by the appropriate authority, may issue a specific administration order to ensure the service continues, in the “extreme scenario” where the designated operating entity never provide vital transport services safely and effectively.

Under the proposed laws, if designated entities breach these controls, including conditions for approval, they could be subject to remedial directions, including the disposal of equity interest and the removal of key appointment holders, said the MOT spokesperson. &nbsp,

Breaching the controls and any of the remedial instructions will also be regarded as an offence, and the penalties for these offenses will be based on already in place penalties under the relevant Acts. &nbsp,

Within 14 days of receiving notification of the relevant authority’s decision on designation and requests for approval for ownership or management appointments, a person may file an appeal with the Transport Minister. &nbsp,

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HSBC launches $1bn fund for Asean's digital economy | FinanceAsia

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HSBC has launched a$ 1 billion Asean Growth Fund to help scale up “platform players” in the region’s digital economy.

The goal is to enable electronic businesses to expand their asset portfolios and achieve scale. The fund intends to support “new-economy names”, well-established corporations, and non-bank economic institutions by “evaluating working metrics tied to their cashflow-generative asset portfolio, rather than only relying on conventional financial metrics,” according to a media release. &nbsp,

In Asean, the London- headquartered world institution has a reputation in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam, and the bank will be looking to support companies in these countries, a spokeswoman told&nbsp, FinanceAsia.

In recent years, the lender has provided significant funding to a number of online gamers. In August 2023, the Philippines-based consumer finance digital platform Atome Financial announced plans to expand its$ 100 million debt facility. Earlier this month, HSBC agreed a$ 100 million credit facility with the Akulalu Group, a bank and digital software group with activities across Indonesia, the Philippines, Thailand and Malaysia. &nbsp,

Individually, HSBC has set apart$ 150 million to provide financing to earlier- stage, higher- growth companies in Singapore that are backed by venture capital or personal equity investors.

” Like so many other internationally minded businesses, we are excited about Asean’s booming digital economy”, said Amanda Murphy, head of commercial banking for South and Southeast Asia ( SEA ) at HSBC, in a statement. Asean has” so much potential for growth” with a working population that is digitally native, growing in size, and poised to consume more goods and services, especially in e-commerce.

Murphy continued,” The introduction of our most recent offerings makes us better able to support new-economy companies in Asean as they spread throughout the region and advance along the corporate lifecycle.”

Digitalising operations

SEA’s digital economy is among the world’s fastest- growing and was worth around$ 218 billion in 2023. By the end of this decade, it is anticipated to have a value of$ 600 billion, with a compound annual growth rate of 16 %. &nbsp,

HSBC recently surveyed 600 companies operating in SEA and found that 42 % said that “digitalising operations” is their top business priority. This was followed by “growth in SEA”, at 40 %, while 37 % of businesses said&nbsp, “research and development” is their top priority. &nbsp,

As Asean’s economies integrate more, 66 % of respondents said they want to expand into new markets within SEA, and 65 % of respondents said they plan to increase their investment in the digitalization of their businesses. &nbsp,

¬ Haymarket Media Limited. All rights reserved.

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Irrational AI exuberance blowing big Asian bubbles - Asia Times

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Tokyo: Surging stocks are n’t always good news, especially given that Asia is already experiencing a significant artificial intelligence ( AI ) boom.

And to batten down the hatches. Asia is navigating an exceedingly precarious 2024 due to the downturn in China, the US Federal Reserve’s easing techniques, and political uncertainty at every change.

Eastern stocks are rising to two-year peaks on little more than AI-inspired madness, which suggests that new stock bubbles are being inflated day by day. Bubbles that, if they collapse, was smash economies throughout the region.

What’s more, Tony Wang, director of the US$ 9 billion T Rowe Price Science &amp, Technology Fund, thinks the AI march is only just getting started.

Multiples “are quite sensible right now”, Wang tells Bloomberg. ” We will experience a decline eventually,” but” I think it also feels a little premature and difficult to call the bottom.”

However, a downturn could occur at any time and trigger a chain reaction when the location is at its worst risk.

In China, for example, Xi Jinping’s group just just managed to put a ground under a plunging stock market. Between the 2021 top and January this year, the$ 7 trillion defeat has already caused incalculable harm to business and home confidence and success.

At the same time, China’s home issue remains a clear and present danger. In Asia’s largest economy, report youth unemployment and deteriorating economic conditions are at odds with negative pressures.

Japan, however, just barely avoided slowdown in the next quarter of 2023. The economy lost 3.3 % of its GDP in the July to September quarter, down 3.3 % from the previous quarter, and only eked out 0.4 % in the final three months of the year. In January, household spending plunged&nbsp, 6.3 % from a year earlier, the sharpest cut in 35 weeks.

All this at a time when the Bank of Japan is going through its first tightening period since 2007. And as Prime Minister Fumio Kishida’s approval score drops to a paltry 20 %, he lacks the political will to restart the transformation process.

On top of events in China and Japan, Southeast Asia faces the possibility of “higher for longer” US relationship provides. The area was persuaded by Fed Chairman Jerome Powell’s team that interest rates do drop repeatedly in 2024 as the year approached.

Firmly higher inflation is thwarting those expectations. Growing fuel and food prices are a looming threat from the Ukraine to the Red Sea to Sino-US tensions, which is a threat that looms over developing Asia’s season.

Without capital markets going gangbusters for reasons that few people understand, or in any other way to connect Asia’s prospects, this backdrop may be difficult enough.

There is a lot of frothiness now that the Dow Jones Industrial Average is on the verge of 40, 000 and the Nikkei 225 Stock Average is moving above that amount, which is a Chinese history.

Take the example of this week’s incident with device manufacturer Broadcom Inc. Its shares rose by the time the corporation held an occasion revealing potential AI investments. That boosted researchers at TD Cowen, Matthew Ramsay, and Broadcom. His word to customers was headlined:” Better Later Than Not”?

It’s difficult not to feel late 1990s software stock mania vibes. All Walmart or Macy’s department stores had to do at the time to raise stock prices was add” .com” to the end of their names.

Similar sentiments to the meme investment craze that pushed the stock of GameStop, Bath &amp, Beyond, and another undervalued businesses into the past are not discernible.

As this latest episode of possible “irrational exuberance” intoxicates world industry, it’s worthwhile reflecting on the nature of that infamous word. Alan Greenspan, the next Fed Chairman, tipped up in December 1996 to warn of a bubble in US tech stocks.

How can we tell when irrational exuberance has unreasonably increased asset values, which are then subject to unexpected and protracted contractions, Greenspan questioned in the middle of a somewhat dry financial speech?

Especially, Greenspan was referring to Japan’s early 1990s property fall. However, US traders did not overlook the fact that Wall Street was being sucked into by the Fed in a facetious bomb.

Decades later, Greenspan wrote” I was choosing my words very thoroughly. I cautiously hedged what I had to say in my typical Fedspeak.

Maybe very carefully, as analyst Chris Turner at ING Bank points out. In the three centuries after Greenspan’s caution, the S&amp, P 500 doubled. The catalog peaked, Turner information, amidst the major tick of the circle- org bubble in 2000.

The problem today is what Powell’s group does. We should n’t underestimate or become complacent about how complicated the interactions between the economy and asset markets, as Greenspan once said back in 1996. So, evaluating shifts in balance sheets frequently, and in asset prices especially, may be an integral part of the development of financial policy”.

Powell’s choices are n’t great. Count property expert Ed Yardeni of Yardeni Research is among those who think Powell’s staff may eventually throw cool water on an AI protest that is driven more by “fear of missing out” than economic fundamentals. Fear in markets could spread quickly, he notes, in the event of a “more hawkish” crouch by the Fed.

The Fed is somewhat of an analog power in a digital world where speculative frenzies are moving at warp speed, just like the meme stocks rallies or Bitcoin hit new highs.

Asian markets are on the front lines as ferociousnesses involving chipmaker Nvidia Corp’s shares and ChatGPT’s disruptive potential upend trading strategies.

Nvidia’s CEO Jensen Huang’s keynote speech at the company’s GPU Technology Conference ( GTC ) conference this week appeared to be receiving more media attention than the BOJ’s first-ever rate increase for Japanese customers since 2007 despite the company’s GTC conference’s keynote address.

‘ Godfather of AI ‘ has a new nickname,’ Ond- trillion man. Jensen Huang, the founder and CEO of Nvidia, envisions a successful business balance between Taiwan and mainland China. Photo: YouTube Screengrab / Unique Satellite TV

” Move over Taylor Swift, you’re not the only one that can sell out a stadium as Jensen presented his GTC keynote to a packed crowd” in San Jose, California, write analysts at Bernstein in a note to clients. When she refers to Nvidia as the” Paris Hilton” of stocks, strategist Amy Wu Silverman of RBC Capital Markets speaks for many.

All of this raises the question of whether central banks ‘ power has diminished as markets move beyond their control. For now, though, the most powerful central bank is taking a wait- and- see approach to domestic trends.

” Overall, the]Fed ] has stuck to its view that the underlying inflation picture is improving, notwithstanding the disappointing numbers in the past two months”, says economist Ian Shepherdson at Pantheon Macroeconomics. They see the most recent numbers as a temporary pause rather than a trend change, they say.

Mohamed El- Erian, Allianz’s chief economic advisor, agrees that the Fed is telegraphing a wait- and- see approach. Powell’s team, El- Erian says, is “indicating a willingness to tolerate higher inflation for longer”.

The same goes for the implementation of’quantitative tightening’. According to him,” the first aspect of patience aligns with the objective of maintaining economic well-being,” while the second reflects a desire to prevent market functioning from being affected by liquidity-related disruptions.

The choices are even more uncertain for the BOJ. Governor Kazuo Ueda made the smallest possible steps this week to put an end to quantitative easing. Tokyo ended the world’s most recent negative interest rate regime on March 19 and abandoned yield curve control measures. Its new range for policy rates is between 0 % and 0.1 %, moving away from the previous -0.1 % target.

However, the BOJ has been very cautious so far about predicting a significant rate change. ” The BOJ’s reticence to provide forward guidance is understandable but will become increasingly important for shaping the structure&nbsp, of&nbsp, the yield curve”, says Idanna Appio, a portfolio manager at First Eagle Investments: &nbsp,

In February, Japanese inflation rose at the quickest pace in four months. Consumer prices, excluding fresh food, jumped 2.8 % year on year. These data appear to support predictions that the BOJ will increase its rate by 17 points to 20 later this year.

Takeshi Yamaguchi, an economist at Morgan Stanley MUFG, finds great significance in the signs that” a good number” of business survey respondents worry about the “impact of slowing Chinese growth” on Japan’s outlook.

Nevertheless, the yen’s 1.8 % decline since the BOJ’s alleged tightening move suggests that traders are unconvinced Ueda will be moving again anytime soon. Global markets are “half in doubt” about recent tightening moves, as strategist Noriatsu Tanji at Mizuho Securities puts it.

Analysts like Simon Harvey of Monex Europe Ltd believe Team Ueda has the financial “firepower” to stop the yen’s decline toward its lowest levels since 1990 in the interim.

According to Harvey, policymakers ‘ verbal interventions will now be more effective because they can effectively influence expectations of upcoming policy in a hawkish direction to support the yen because government bond yields are now able to flexibly adjust higher as long as it is in a moderate manner.

Shunichi Suzuki, the minister of finance, stated on March 19 that his team is paying close attention to yen movements. Japanese officials are no more in charge of the financial situation than anyone else in Asia, despite AI-driven manias that have sent stocks into bubble territory.

William Pesek is on X, formerly Twitter, at @WilliamPesek

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Paths open to possible de-escalation of military and economic tension - Asia Times

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Subscribe now&nbsp, for access at a special price of only$ 99/year.

Solid production and funding data support China’s remarkable transition from the tech sector to the real estate sector.

David P. Goldman highlights recent economic trends in China, including a 9.4 % increase in manufacturing investment, a 7 % growth in industrial production, and a 9 % fall in property investment, reflecting a shift towards high- tech manufacturing as outlined by Beijing.

European Social Democrats discuss halting the conflict in Ukraine.

In a Bundestag debate, Rolf Mützenich, the leader of Germany’s Social Democratic Party ( SPD), argued for peace negotiations with Russia, underscoring how the country’s current internal conflict with Ukraine continues to exist.

In Ukraine, Vladimir Putin gets ready to remove his post-election boots.

James Davis provides an overview of the continuous military exercises in Ukraine, revealing Russian advances and Russian attacks on several sides. He likewise discusses new political developments in Russia, including President Putin’s are- vote and their possible ramifications. &nbsp,

Blowback from punishment on China: Secret capital, Huawei, EVs

Scott Foster discusses the unforeseen effects of US sanctions on China, which are causing increased Chinese relations with the Middle East, increased Taiwanese R&amp, D, and new competition for American tech firms as Western investors retrace their investments there.

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SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model

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  • eliminates first financial stress, reduces overall honest installation costs, and lowers the cost of installation.
  • Fixed tariff rate of RM0.46k Wh for next two decades, compelling economic value

A residential solar installation in progress.

Spearheading a paradigm shift towards lasting energy, biotech company, SOLS Energy, one of the world’s leading home renewable installers introduces its groundbreaking ‘ Home Solar Subscription Program’, a pioneering initiative in Malaysia’s renewable energy landscape. Petronas Ventures provided funding for SOLS Energy after it was founded in 2015.

This cutting-edge program makes a major step forward by giving homeowners a simplified and more available path to renewable energy like never before.

The Home Solar Subscription Program was established in Malaysia in an effort to alter the landscape of how people use solar energy, with the main objective being to encourage popular solar power adoption in Indonesian homes. By addressing fiscal constraints, the program covers the entire upfront investment, enabling householders to embrace renewable energy without having to bear initial costs.

One of the program’s main advantages is that subscribers do n’t have to pay any debt because they do n’t have to use credit cards or borrow money. Subscribers even receive a complimentary 20- time solar PV equipment warranty, providing peace of mind and dependability.

The” Home Solar Subscription Program” stands out from normal solar efforts by offering immediate payback times, mitigating the long waiting times normally associated with recovering initial purchases. Notably, participants benefit from a fixed tariff rate of US$ 0.09 ( RM0.46 ) per kilowatt- hour (k Wh ) for the next two decades, offering potential savings compared to the current national grid tariff of US$ 0.12 ( RM0.57 ) k Wh. This predetermined rate provides stability and predictability in energy costs, providing homeowners with a convincing economic justification for switching to solar power.

SOLS Energy drives Malaysia’s home solar adoption with innovative subscription model” Our commitment to empowering people on their path to sustainability and a brighter future is unwavering,” said Raj Ridvan Singh ( pic ), founder-CEO of SOLS Energy. ” That’s why we are revolutionizing the affordability and availability of solar energy for everyone,” he said. Through our Home Solar Subscription Plan, we’re breaking over barriers to renewable implementation. The transition to renewable energy is made simple by this program, giving householders a smooth transition. By embracing renewable energy, homeowners not only have complete control over their energy consumption, but they also have a significant impact on promoting good economic change. They will significantly reduce their carbon footprint while enabling generations to come with a cleaner, greener coming.

With a proven track record of installing solar power in the region of 14MW since 2016, SOLS Energy is in the top spot. 1 home renewable company in Malaysia with over 1, 800 house solar setups. The programme has resulted in annual electricity bill savings of US$ 2.84 million ( RM13.4 million ) for customers and carbon avoidance equivalent to planting 418, 500 trees.

SOLS Energy offers tailored setups with in-home technicians who can offer advice based on the needs of each household. With its emphasis on personalized service, SOLS Energy distinguishes itself from other companies and ensures that each buyer receives the best thermal solution possible.

By reducing rely on fossil fuels and reducing carbon footsteps, the Home Solar Subscription Program contributes to a more sustainable future. By encouraging the adoption of solar power, the program coincides with Malaysia’s ambitions of achieving a brighter and more responsible power ecosystem”, said Raj.

SOLS Energy, backed by Petronas, emerges as a leader in the realm of green energy options in Malaysia. With a determination to transitioning 285, 000 Indonesian households to clean energy, SOLS Energy remains steadfast in its alignment with Malaysia’s overall net- zero aspirations.

Notable accomplishments to date include providing electricity access to over 1,400 B40 Orang Asli families and empowering more than 600 members of the B40 indigenous group through its thermal club.

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