ADVANCING JUST ENERGY TRANSITION
Malaysia ’ s Sustainable Energy Development Prospectus
2017 |
• Development of the National Biomass Industry Action Plan , aiming for energyintensive industries to increase the share of biomass in their energy use . |
2021 |
• Introduction of the National Energy Policy 2022-2040 . |
2023 |
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• Launch of the Green Technology Master Plan , outlining the strategic actions in propelling green technology development in Malaysia . |
2020 |
• Introducing the Malaysia Renewable Energy Roadmap ( MyRER ) outlines strategies and an action plan to achieve a 40 per cent RE installed capacity target by 2035 . |
2022 |
• Introduction of the National Energy Transition Roadmap ( NETR ). |
17 |
Policies on Renewable Energy
The discussion on electricity market reform has been an ongoing exercise within the NRECC and related energy agencies . Specifically , the future electricity market reform can introduce competitive pricing , increase customer choice and satisfaction , and spur further economic activity in the sector .
Over the years , Malaysia has implemented significant energy policies and regulations to shape its energy landscape .
Review of Renewable Energy Policies
In line with the development of the NETR , the Ministry of Economy has also collaborated with NRECC to review and update existing policies on RE , leading to the following decisions :
• Increase the target for installed RE capacity from 40 per cent in 2040 to 70 per cent by 2050 . The higher target is expected to generate new economic opportunities by attracting multinational companies , especially RE 100 companies , to operate in Malaysia
• Expand RE development based on the concept of a self-contained system to encourage investment in the RE value chain and diversify RE programmes according to the principle of willing buyer , willing seller
• Scale up the installation of solar systems in government buildings
• Allow cross-border RE trade through the establishment of an electricity exchange system .
Within the whole-of-nation approach , new policies and strategies have steadily developed to complement NETR in strengthening Malaysia ’ s lowcarbon transition .
Among others include :
• the Nationally Determined Contribution ( NDC ) Roadmap , Long- Term Low Emissions Development Strategies ( LT-LEDS ) and Future Proofing MESI by the NRECC