Malaysia to reduce FIT for PV projects to be completed in 2015

Malaysia’s Sustainable Energy Development Authority (SEDA) has proposed to reduce the FITs for PV installations that will be connected to the grid in 2015.

According to the proposal, which is currently being discussed by all interested parties, the FIT for PV installations of up to 24 Kw will be reduced by 10%, while that for PV installations with a power over 24 kW and up to 1 MW will be reduced by 15%. The FIT for PV plants with a power between 1 MW and 30 MW will be reduced by 20%.

Furthermore, SEDA is proposing to reduce the rates for bonus criteria for simplified and integrated BIPV by 20% and 80%, respectively. SEDA said that the FIT reduction is a necessary step in order to »ensure financial efficiency in managing the Renewable Energy (RE) Fund.