Tax incentive for Renewable Energies?

Malaysia may have a law to help spur the development of renewable energy, reports Business Times. It says that the Ministry concerned has consulted TNB to get the power producer's input on the matter. If this happen then it would be a big step for Malaysia to embrace green technologies.

Malaysia is considered to be one of the major players in SE Asian nations in terms of renewable energy, but industry development wise, we are behind Thailand. Thailand has more renewable power connected to the country's power grid and this is where the Law (should there be any law enacted soon) can boost green energy in Malaysia.

According to TNB's renewal energy unit, Malaysia has about 67MW of power from renewable sources connected to the grid, while Thailand probably has about 10 times more.

Another South East Asian nation, the Philippines, have enacted its own RE law designed to expand the supply of electricity from RE sources in the country. The Philippines ways of doing it include:

Power plants using RE sources get income tax exemption for the first 7 years of operation.

Electricity generated from renewable sources receives preferential feed-in.

Targets 60% of its energy demand to be covered with its own RE resources by 2010.

Amazing! Malaysia should take cue of this and move fast. Do it big and do it now, or it will remain as just talk and dream.

Please take some time to further read here.