The power sector in is expected to see a proliferation of solar projects this year, as households and companies seek to lower their electricity bill and reduce carbon footprint. According to AmInvestment Bank (AmInvest) Research, the demand for solar systems would likely come from the rooftop segment, solar farms and data centres. “We reckon that demand for solar rooftop systems will increase as commercial and industrial companies seek to reduce electricity bills and carbon footprint. Solar EPCC (engineering, procurement, construction and commissioning) companies are expected to benefit from the rollout of solar projects in 2024,” it said. AmInvest Research said it expected profit margins of solar projects to improve as the cost of solar panels had declined.

Source: The Star