KUALA LUMPUR, Oct 13 — Measures announced in Budget 2024 to stimulate the adoption of green energy demonstrate Malaysia’s commitment towards its transition to renewable power, Gentari Sdn Bhd said when lauding the federal spending plan tabled today.

Gentari chief executive officer Sushil Purohit said it was encouraging to see the government use Budget 2024 to cement previous initiatives announced in this direction, such as the National Energy Transition Roadmap (NETR).

"The government’s call for increased residential solar installations is a welcomed one. Furthermore, we are proud to work with the government and with Tenaga Nasional Berhad to enable the low carbon green city of Putrajaya through installation of solar panels in government and commercial facilities by 2024 with a cumulative solar PV capacity of 3MW and potential capacity up to 20MW by 2030.

"With the government extending financial incentives towards EV adoption, our endeavours within the electric vehicle and charging infrastructure sectors receive a boost, seamlessly integrating with our mission to elevate Malaysia’s green mobility landscape,” he said in a statement today.

Sushil also commended the Budget 2024 proposal to offer a RM2,400 tax rebate to buyers of electric motorcycles earning under RM120,000 annually, saying this would encourage more Malaysians to adopt electric vehicles and accelerate the country’s shift to green energy.

A higher population of EV users would create more demand to drive the development of Malaysia’s charging network, he said.

In the Budget 2024 tabled today, Prime Minister Datuk Seri Anwar Ibrahim announced the rebate for electric motorcycle purchases as well as personal income tax relief of RM2,500 for individuals to offset the cost of EV charging facilities for four years and rental for two years.

He also said the government would extend the Net Energy Metering (NEM) scheme until December 31, 2024 to encourage more residential households to install solar power panels.

Anwar also said Putrajaya would be made into a low-carbon city after which the rest of the country could be modelled.