What is NEM 3.0?
Ever heard of NEM 3.0? If you have not, it’s time you did.
NEM 3.0 is a programme presented by the government to encourage users to install solar photovoltaic (PV) systems. What are PV systems? Simple. Solar PV is also known as solar panels that generate electricity from the sun.
The Net Energy Metering was introduced in 2016. It was a motivation by the government to increase the usage of solar power. After a positive response, NEM 2.0 was introduced in 2019. NEM 2.0 allows excess solar power to flow back into the grid on a “one-on-one” offset basis. That’s where its popularity picked up. Excess power could be sold back to TNB. This widely satisfied customers.
3 Aspects About NEM 3.0
Not long after, NEM 3.0 was introduced and will be available from 2021 to 2023. What’s new about NEM 3.0? Actually, there are three. To encourage a further increase in solar power usage, the government has set a total quota of up to 500 MW. This will be divided into three sectors. Namely;
NEM Rakyat (homeowners)
NEM NOVA (industrial)
NEM GoMEn (government ministries and entities)
As Verdant Solar only focuses on residential solar homeowners, NEM Rakyat is our priority, and it focuses on the people, which is basically everyone.
What is NEM Rakyat? Here’s what you need to know.
This programme has an allocated quota of 100 MW.
Now, by installing a solar PV system, the public (Rakyat) can save money by reducing electricity!
How solar panels work to reduce my electricity bill?
The PV system works as a storehouse for all excess solar energy generated by it. None of the energy or money will go to waste. According to NEM 3.0, once it generates the electricity and is used, the excess can be offset on a one-to-one basis. Awesome right? People can save up to 90% every month in the long run. Who wouldn’t want that deal? While saving money, we also get to practise an eco-friendly lifestyle!
It is important that we take note on what is allocated for us. Solar power is extremely important, especially in today’s world. Here’s why;
- Solar power is pollution free and causes no greenhouse gases to be emitted after installation.
- Reduce dependence on foreign oil and fossil fuels.
- Reduce carbon dioxide.
- Renewable clean power that is available every day of the year, even cloudy days produce some power.
- Return on investment unlike paying for utility bills.
- Virtually no maintenance as solar panels last over 25 years.
Even if there are significant high initial costs for material, installation and long ROI, with the reduction in cost of solar over the last 10 years, solar is becoming more cost feasible every day.
Think about it, we wont be paying so much in the long run! Customers will be able to save up a lot instead of paying those bills every month. Moreover, we can all play our part in conserving the environment by using green energy.
How do we start?
It is not that complicated actually.
Step 1: We just need to know or estimate our electricity consumption pattern. Collect your monthly bills and notice the pattern.
Step 2: Engage with the RPVSP (Registered PV Service Provider). You will get more information from them.
Step 3: This is the last step! It is basically a site survey to discuss and confirm the system size. Not to worry. This step is done by the solar company. In this case, it could be Verdant Solar.
Conclusion
In conclusion, Solar PV for home reduces electricity bills up to 90%, increases property value, is a great return on investment, and has a 25-year performance warranty! How awesome is that? It is time we really looked into NEM Rakyat and changed the way we use electricity. What better way to do it than to use renewable energy which is given freely by the Sun.
