Investing in solar in APAC has never been more crucial – here’s why
APAC is experiencing rapid economic growth. But with this rapid expansion comes a surge in the demand for electricity.
With traditional energy sources like coal and gas facing increasing costs at every turn, as well as major environmental concerns, solar energy has emerged as a more viable and attractive solution.
And thanks to new developments in renewable energy policies and technological advancements, the stage has been set for a boom in the solar energy sector.
In this blog post, we take a look at why now is the perfect time to invest in solar energy in APAC – and how both homeowners and businesses in the region can look to Hoymiles to aid in their photovoltaic journeys.
Hoymiles microinverter project in Thailand
Major photovoltaic initiatives and developments in APAC
According to industry research, renewables will account for 30-50% of the power mix in most APAC markets by 2030. At the forefront of this energy transition, several APAC nations are taking bold steps toward expanding their solar energy capacity, including countries like India, Malaysia, and Vietnam.
India
India has been leading the charge with a projected renewable energy capacity of 180 GW by 2026 – 81.81 GW of which is solar. The Indian government has implemented several initiatives, like the PM Rooftop Solar Yojana and PM-SGMBY, to promote rooftop photovoltaic (PV) installations. Combined with reduced access charges and green open access policies, these measures are all helping India face a smoother transition to renewable energy.
Malaysia
Malaysia is making significant strides with its Corporate Renewable Energy Supply Scheme (CRESS), introduced in September 2024. CRESS allows third parties to supply or purchase green electricity via the grid, helping to foster a competitive environment and drive more solar adoption. This initiative is expected to raise over RM10 billion (approximately US$2.3 billion) in investments and create nearly 14,000 jobs.
Malaysia’s GREEN MADANI initiative is also set to boost renewable energy capacity to 40% by 2035, significantly reducing carbon emissions and ensuring a greener future for the country.
Hoymiles microinverter project in Malaysia
Vietnam
Vietnam has become a regional leader in solar energy, achieving over 17 GW of installed PV capacity by the end of 2023. This impressive growth is now aided by the government’s new net-metering scheme for rooftop solar, raising the allowed threshold of surplus electricity sold back to the grid from 10% to 20%.
Additionally, Vietnam’s revised National Power Development Plan VII aims for 13.6 GW of utility-scale PV and 3.4 GW of rooftop solar by 2045.
What are the benefits of going solar
Beyond the impressive policies and initiatives that governments in APAC are introducing, there are many different benefits of investing in solar energy – whether it’s for businesses or homeowners.
Solar power provides long-term savings
After the initial investment, the long-term savings on electricity bills make solar panels a worthwhile expense. With the cost of solar technology steadily falling, it’s now more affordable than ever to switch to solar.
Governments across APAC are introducing various incentives to encourage solar adoption – from tax benefits and subsidies to net-metering schemes – by reducing initial costs even further.
Solar power offers environmental benefits
Solar energy is a clean, renewable source of power that helps reduce greenhouse gas emissions. By switching to solar, households and businesses can significantly cut their carbon footprints, contributing to global climate change mitigation efforts.
The increased use of solar energy reduces dependence on polluting fossil fuels like coal and gas, which have been major contributors to environmental degradation.
Solar power gives you energy independence
Solar power allows homeowners and businesses to generate their own electricity, reducing their reliance on traditional energy grids.
This is especially critical in regions prone to extreme weather conditions. In Thailand, which has recently experienced extreme flooding, decentralized power sources like solar panels ensure continued electricity supply during outages, allowing residents to stay connected in extreme weather conditions.
In addition, as the demand for electricity rises, so do the prices. This makes solar a more cost-effective and stable alternative to fluctuating grid rates.
Solar systems are easy to install and manage
Solar systems are relatively easy to install on an average household, often taking just days or hours for full installation depending on the capacity. Modern solar systems also come with user-friendly apps that allow users to monitor their system’s performance directly from their smartphones, making energy management simpler and more efficient. This convenience, combined with the growing availability of solar technology, is driving the uptake of solar systems across the region.
A villa in Indonesia going solar with Hoymiles microinverters
Harness the power of solar in APAC with Hoymiles
Solar systems can only be as efficient as the components they’re composed of. At Hoymiles, we provide a wide range of specialist microinverters and energy storage inverters to ensure that your solar system matches your energy needs to be as efficient as possible for your home or business.
Microinverters
Hoymiles microinverters effectively convert DC power from solar panels to AC power, offering high performance and reliability. Our microinverters enable each solar panel to operate independently, improving overall system performance even in challenging conditions.
Why Hoymiles microinverters?
- Better performance – module-level operation and monitoring, no single point of failure
- Wide-ranging compatibility – compatible with various solar system sizes
- Enhanced safety – low DC voltage operation and surge protection
- Full visibility for peace of mind – real-time monitoring and control
- Scalable design – allows for easy solar system expansion
- Robust and durable – IP67 enclosure rating and extended warranties of up to 25 years
- Real-time data – access to operational data and remote O&M on S-Miles Cloud
Hoymiles’ top microinverter products in APAC
HMS-2000DW-4T
- 2000 VA output power
- Built-in Wi-Fi, no communication gateway needed
- 4 input channels for faster installation with lower costs
- 2 MPPTs
- Individual modules’ performance tracking and remote diagnosis over time
HMS-2000-4T
- 2000 VA output power
- 4 input channels for faster installation with lower costs
- 4 MPPTs
- Individual modules’ performance tracking and remote diagnosis over time
- Sub-1G wireless solution for more stable communication under various environmental conditions
HMT-2000-4T
- Three-phase
- 2000 VA output power
- 4 input channels to reduce installation costs
- 2 MPPTs
- Sub-1G wireless solution allows stable communication in commercial and industrial settings
DTU Series
- Data transfer unit
- Collects information from solar PV microinverters using a Sub-1G/2.4G wireless solution
- Offers different communication options including ethernet, Wi-Fi and 4G
- Quick and easy to install
*This is not an exhaustive list and information is current as of November 2024. Contact your sales representative or leave us a message for the latest product information.
Energy storage
Hoymiles energy storage solution features energy storage inverters and batteries. The solution allows seamless integration of solar, battery, and grid power. They ensure continuous energy supply and enable users to maximize solar power efficiency, even during grid outages.
Why Hoymiles energy storage solution?
- Reliable power supply – through on-grid and off-grid modes
- Intelligent energy management – ensures the most efficient use of solar energy
- Wide-ranging compatibility – with various systems and flexible coupling options available
- Scalable design – for easy system expansion
- Ease of use – with simple installation and cloud-based performance monitoring
- Full peace of mind – with leading protection rating to ensure stable performance in challenging environmental conditions
Hoymiles’ top energy storage products available in APAC
HYS-(3.0-6.0)LV-EUG1 Series
HYS-(8.0-12.0)LV-EUG2 Series
- Single-phase hybrid inverter
- Maximum output power from 3 kW to 12 kW
- IP65 protection level
- UPS level switching time <10 ms
- Max. 10 parallel inverters
- DC/AC ratio up to 150%
HYT-(5.0-12.0)HV-EUG1 Series
- Three-phase hybrid inverter
- Maximum output power from 5 kW to 12 kW
- IP65 protection level
- UPS level switching time <10 ms
- Max. 10 parallel inverters
- DC/AC ratio up to 150%
LB-(5-20)S-G1 Series of Batteries
- LFP with improved safety design
- Suitable for indoor/outdoor installation with IP65 design
- Quick connector design saves installation time
- Stackable design without wiring
- Flexible capacity options from 5.12 kWh to 20.48 kWh
- Module level fire protection
What Hoymiles energy storage solution offers:
- An intelligent EMS function, including self-consumption, economic, and backup modes for multi-scenario applications
- Monitoring management through S-Miles Cloud
- The ability to remotely diagnose and track system performance over time for superior energy production
- The ability to store surplus energy and realize peak shaving to save more
- A step further towards energy freedom
*This is not an exhaustive list and information is current as of November 2024. Contact your sales representative or leave us a message for the latest product information.
Now is the time to invest in solar energy
APAC is adopting solar energy at a rapid pace, thanks to supportive government policies, advancements in solar technology, and an urgent need for cleaner, more reliable power. At Hoymiles, we are paving the way for a brighter, more sustainable future in the region, making now the perfect time to invest in solar.
Are you a business owner or homeowner in APAC? Switch to solar energy with Hoymiles today to enjoy long-term savings, cleaner energy, and independence from fluctuating energy prices.
