Malaysians Unite for a Greener Tomorrow: Seize the NEM Quota and Combat Climate Change
The Net Energy Metering (NEM) 3.0 initiative will continue, with an additional quota offer of 100MW for NEM Rakyat and 300MW for NOVA. The NEM 3.0 quota offer period will last until December 2024, or until all quotas are allocated, whichever comes first.
Citizens are being asked to unite in the fight against climate change in order to strengthen Malaysia's commitment to a sustainable future. The government's constant support for renewable energy is demonstrated by a number of ground-breaking laws, and Malaysians are now being urged to play an active role by participating in the Net Energy Metering (NEM) 3.0 initiative.
The government has also implemented incentives including the Green Technology Financing Scheme, the Green Investment Tax Allowance, and the Green Income Tax Exemption to encourage private financing and involvement. There are institutional measures in place to help the expansion of renewable energy even further.
Malaysia is moving toward a greener and more sustainable future because to its progressive views on renewable energy. An estimated USD 8 billion in investment will be required to meet the 20% renewable energy objective by 2025, thanks to the government's strategic actions, which include feed-in tariffs, power purchase agreements, and aggressive renewable energy targets.
Government Policy Fuels Growth in Renewable Energy
NEM 3.0: A Golden Opportunity to Go Green
In a historic step, the YAB Minister of Energy Transition and Public Utilities announced an extra quota offer for the Net Energy Metering (NEM) 3.0 program. With 100MW designated for NEM Rakyat and 300MW for NOVA, this program intends to enable Malaysians to create their own renewable energy while also contributing to the country's environmental goals.
The NEM 3.0 quota offer is scheduled to last until December 2024, or until all quotas are awarded, giving citizens a substantial window of opportunity. Malaysians can actively engage in the increased quota by applying online through the e-NEM system from Monday, February 5, 2024, at 11:00 a.m.
The 2007 floods in Johor, which resulted in significant financial losses and forced thousands of people to flee their homes, serve as a sobering reminder of the serious and immediate dangers that climate change poses. Unpredictable weather patterns, increasing sea levels, and their effects on agriculture highlight the necessity of taking coordinated action.
Malaysians Against to Climate Change: Rising to the Challenge
Malaysians may make a real progress toward a sustainable future by submitting an application for the NEM quota. This program supports the country's larger efforts to prevent climate change in addition to enabling people to utilize sustainable energy.
“We need to stop talking and start working now, because climate change is like a ticking time bomb Young Syefura Othman”, said the member of parliament for Bentong district.
It's a call to action, apply for the NEM quota, and work together to create a greener, more resilient Malaysia. The decisions we make now will have an impact on our environment in the future. Together, we can make a difference.