Bangkok: PRIME aims to capture the residential solar market, capitalizing on soaring electricity prices and tax deductions. PRIME expands into the residential solar market, responding to the government's energy conservation policy and the tax incentives for citizens who install solar panels.
According to Thai News Agency, Mr. Somprasong Panjalak, Chief Executive Officer of Prime Road Power Public Company Limited (PRIME), highlighted the global energy crisis driven by geopolitical challenges. He emphasized the importance of renewable energy as a viable solution, especially with governmental support for solar rooftops through tax breaks. This initiative is expected to drive more residential installations of solar rooftops.
In line with the current energy scenario, PRIME has set a policy to aggressively target the residential solar market by 2026. This move aligns with the government's push for energy conservation and the company's strategy to engage micro, small, and medium-sized enterprises (MSMEs). Additionally, PRIME plans to develop new energy-related business units while focusing on improving cost management and operational efficiency to ensure sustainable growth.
Recently, PRIME managed to repay bondholders 23.14% of the par value using funds from the sale of four ground-mounted solar power plant projects. These projects, located in Ayutthaya and Pathum Thani provinces, were sold for approximately 686 million baht. The proceeds were used to repay bonds worth 502.47 million baht.
The Revenue Department has evaluated the impact of the solar rooftop tax deduction program, which applies to installations between March 3, 2026, and December 31, 2028. This program allows for deductions of installation costs up to 200,000 baht, boosting domestic investment by at least 220 billion baht. It is also projected to reduce national electricity consumption by approximately 25 billion units annually, decrease the cost of importing LNG for electricity generation by 86 billion baht, and cut greenhouse gas emissions by around 11 million tons of carbon dioxide equivalent.