Abstract
Technology, economics, and government policies, disrupt business models. Since the initiation of feed-in tariffs and renewable energy policies, the Malaysian solar photovoltaic industry has experienced acceleration growth. Changes in policies and a limited feed-in tariff quota system affected the solar photovoltaic industry in Malaysia. However, new policies and frameworks towards self-consumption and large-scale solar with net energy metering and financing options have changed the business models. To better understand Malaysia's present solar PV business models and financing options, interviews and surveys were conducted with business representatives and customers. In addition, Malaysian solar PV business models were compared with Germany, the USA, Japan, and Thailand. The drivers, barriers, and challenges faced by solar service companies and customers in Malaysia are presented. Interestingly, the Malaysian solar energy business was immune to the Covid-19 pandemic, and an overwhelming increase in the installation capacity took place owing to existing attractive policies. The study provides valuable insights on the guidelines of existing business models and new energy policies that might assist renewable energy policymakers, local solar photovoltaics companies, and foreign investors.
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