Abstract
The situation of solar energy in Malaysia is examined in this article, with a focus on solar photovoltaic (PV) installations in Malaysian homes. It examines Malaysia's historical solar energy initiatives in terms of R&D, deployments, and national policy during the previous two decades, all of which have affected PV installation in the country. The New Energy Metering system (NEM) policy, as well as a cost-benefit analysis of PV installations for Malaysian homes are addressed. A preliminary survey of public opinion was performed to better understand public perceptions of clean energy policies and advantages, as well as an evaluation of public willingness to join in the NEM policy by installing PV on their homes. The NEM policy will give a reasonable return on investment, according to the cost-benefit analysis. While PV solar energy has the potential to be a viable alternative, Malaysian families face a number of challenges, including high costs, a lack of physical and financial resources, a lack of expertise, and a lack of social support. According to the survey, the majority of respondents are ignorant of the government's clean energy subsidies and strategies, and are unable to participate in the NEM policy.Keywords: New Energy Metering (NEM), Solar PV, Cost-Benefit Analysis, Clean Energy, MalaysiaJEL Classifications: O13; O33; D12; Q21; Q56DOI: https://doi.org/10.32479/ijeep.11750
Highlights
Malaysia’s large population demands a high demand for energy, with fossil fuels accounting for 90% of it (DoSM, 2020)
The goal of this study is to look at power consumption and supply, non-renewable and renewable energy, CO2 emissions, and hurdles and challenges to solar energy
The initial attempt made by Malaysia to include green power was to utilise biomass profitably in the early 2000s, which resulted in 1% of total energy generation being generated by 2015
Summary
Malaysia’s large population (about 32.6 million people) demands a high demand for energy, with fossil fuels accounting for 90% of it (DoSM, 2020). Malaysia vowed at the Copenhagen Conference of Parties to cut carbon emissions by 40% by 2025 compared to the baseline year of 2005 (Conference of the parties (COP15, 2009) This suggests that Malaysia must transfer its power production to renewable energy supplies in order to meet the electricity demand while reducing its reliance on fossil fuels. Electrical energy may be generated and the most common emissions can be created as fossil fuels Another sustainable energy source in Malaysia is solar PV system. Certified NEM scheme holders have the ability to obtain power in the event
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