Aimed at reducing business costs through the use of a solar PV system by the commercial and industrial sector the NOVA program enables successful applicants to:
i. CONSUME the electricity generated with a solar PV system
ii. SELL excess electricity (generated with a solar PV system) back to the grid at market rate or System Marginal Price (SMP). The electricity sold will be converted to credits and will be reflected in the following month’s electricity bill.
iii. OFFSET excess electricity (generated with a solar PV system) by distributing it through virtual aggregation up to 3 different electricity bill accounts under the same name.
The NOVA Program has an allocated quota of 300MW and starts 1 April 2021 with a 10-year contract term for successful applicants. The program lasts till the quota has been fully allocated or by 31 December 2023 (whichever comes first). More info will be released prior to the launch date.