THE concept of green energy was introduced by various authorities some time ago to instil green practices among countries across the world. In other words, green energy is a concept created to bring about greater environmental sustainability through the reduction of reliance on fossil fuels, and thereby lowering carbon emissions that can potentially cause adverse climate change outcomes.
Malaysia is a country that has embraced the concept of green energy to a great extent, and it has taken this matter seriously. As a result, Malaysia has shown its commitment towards transforming itself and its industries by incorporating a green energy concept via the use of various technologies and initiatives.
The country has started to embark on a mission of environmental preservation through implementation of various policies and regulations that govern green technology, and how it is implemented in the country. Malaysia has indeed taken the lead in the region when it comes to achieving green technology-related objectives.
Statistics have shown that Malaysia seems to be on the right track towards embracing green energy at a greater level. It has made plans to enhance its share of renewable energy by up to 31% by the year 2025, and 40% by 2035 via its present Green Energy Generation Plan.
According to the government, the green energy transition plan would be affordable, and following the Sustainable Development Goal, it will ensure ease of access to cheap, reliable and sustainable green energy for all Malaysians.
According to the minister tasked with overseeing the country’s green energy transition, the journey towards lowering carbon footprint will bring about several challenges, and as a result, Malaysia has set forth its commitment to continue working with its partners across the region to achieve its green energy goals.
A variety of initiatives that have been implemented shows Malaysia’s dedication towards green energy, and one of these includes the introduction of the Large Scale Green competitive bidding programme to reduce cost of energy for developing large-scale solar photovoltaic plants.
Apart from that, the government is also focused on price-related matters when it comes to green energy technologies, to make them competitive within gas-based projects in Malaysia.
The Sustainable Energy Development Authority of Malaysia has introduced competitive bidding for small hydropower technologies. It has also conducted e-bidding activities for biogas technology.
In essence, the strategic focus when it comes to green energy is to drive the country towards achieving green energy targets. There are a variety of initiatives that has been undertaken to advance green technology, that has been encouraging for potential investors and operators.
Malaysia is expected to double its green energy capacity. The over arching ambition of non-hydro power renewables is the main focus, but it is also focusing on other sources
of green energy as well, such as solar photovoltaic technology.
Apart from that, hydropower is also another long-term opportunity when it comes to promoting green energy in Malaysia. This is especially so with the advent of green hydrogen, generated from renewable technologies. East Malaysia boasts favourable conditions for such technology to be implemented, and to further the green energy revolution in the country.
Most of the world’s hydrogen is presently created using traditional, fossil fuel power industries. However, leveraging on renewable technologies would likely reverse the current problem with value chain, and provide new capabilities for low-cost carbon power and transport, and achieving benefits and attractive market potential in the industry.
Malaysia has an encouraging future when it comes to renewable energy adoption and it is supported by a widely attractive green technology investment environment. The country is focused on maximising the presence of sustainable businesses, expanding its value pool, as well as exploring new frontiers that are capable of offering small and big wins in this highly evolving green energy sector.
Malaysia recognises that green power sources are likely to add value across the value chain, and is capable of unlocking a vast range of benefits for the nation. The rollout of free renewable technology would create new jobs and open new business opportunities, as well as present an opportunity for Malaysia to operate its present network infrastructure. In other words, green energy means new and innovative activities for Malaysia and its citizens.
In conclusion, Malaysia is serious in its quest to create greater sustainability within the region for better environmental outcomes. It has invested a significant amount of resources in building its green energy industry, and many of its investments have paid off while many others are still in the making, which will assist Malaysia in becoming one of the region’s leaders in green technology in the future.
Assoc Prof Dr Akram Al-Khaled, Senior Lecturer/Head of MBA Programme, Faculty of Business, BERJAYA University College. Comments: firstname.lastname@example.org