Potential saving and return of investment of solar panel system installation for residential in Malaysia / Tan Kian Hwa

Tan, Kian Hwa (2021) Potential saving and return of investment of solar panel system installation for residential in Malaysia / Tan Kian Hwa. Masters thesis, University of Malaya.

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Abstract

Nowadays, electrical demand is getting to increase in residential area. Annually, there are 3% of electrical consumption increase in residential. Therefore, the electrical price is followed to increase. Besides that, non-renewable energy source is gradually depleting. Hence, renewable energy had been introduced to replace the non-renewable energy source. Due to Malaysia is in a strategical location, solar photovoltaic (PV) system is the renewable energy to promote to implement in Malaysia. In addition, solar PV system is a suitable solution to reduce the household electricity bill by selling back the solar energy back to the electrical grid. Along the year, Malaysia government implemented several policies to expand the usage of renewable energy in Malaysia such as Feed In Tariff (FiT) scheme and Net Energy Metering (NEM). However, people still did not convince on the performance of the solar PV system. This research study provides the analysis of solar energy production in three different locations to illustrate the potential saving. The potential saving based on three different location is up to 50% from the initial electricity bill with assumption of 2% increment on the electrical tariff. The return of investment for the solar panel system is fall in between 33% to 38% based on three different locations.

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