1. What is HLB Solar Plus Loan?
It is a financing package for the purchase and installation of Solar Photovoltaic (PV) system on residential rooftops that will help reduce your electricity bill by using solar energy as an alternative source to generate electricity.
2. Does the Bank match-make the Service Providers to me or can I choose my preferred Service Provider?
We aim to provide you a smooth and easy financing process. For your convenience, you can choose your preferred Service Provider from our experienced Solar Company Partners that has been approved by SEDA and/or Suruhanjaya Tenaga.
3. What if I plan to install the system myself? Can the Bank provide financing under this programme?
You will need to choose one of the Bank’s approved Service Providers to be eligible under this programme.
4. My house is in Ipoh but I noticed there are no service providers nearby.
Can I still apply and which service provider will entertain my query?
You may contact any of the Service Providers from our Solar Company Partners listed on HLB’s website as they cater to all customers in Malaysia.
5. I do not know how many solar panels to install. Will I need to pay for an initial assessment?
No, there are no charges for initial assessment. The quotation for solar panels is usually based on your electricity bill (preferably for the past three months) of the residential property where you intend to install the solar panels. As such, providing the address of your residence is sufficient for the Service Provider to do the initial assessment.
6. How much can I save by putting solar panels on my rooftop?
There is no “one-size-fits-all” solution or cost savings. The final cost savings is dependent on several factors such as the size of the house, kilowatt of the solar power system installed, quality of the equipment and technical or regulatory limitations. Typically, the cost savings would be up to 80% of the monthly energy consumption. However, if you are eligible for other incentives offered by the government, your total cost savings could be more.
7. How much does the solar panel cost?
In general, a typical semi-detached house would require an estimated size of 950 square feet of solar panels (at 10kW of power capacity). This will roughly cost RM37,000. Please note that the actual cost may vary depending on factors mentioned in Question 6 above.