Malaysia’s Renewable Energy Momentum: Key Insights from En. Fitri Isahak, GM of Green Xperts
In an interview with Radio Televisyen Malaysia, En. Fitri Isahak, General Manager of Green Xperts, outlined Malaysia's strengthened commitment to renewable energy, underscored by the government’s RM393.8 billion allocation in Budget 2024. This budget includes substantial tax rebates and income tax relief aimed at accelerating growth in solar energy and electric vehicles (EVs)—two crucial sectors for Malaysia’s energy transition.
The nation’s National Energy Transition Roadmap (NETR), led by Kementerian Ekonomi, maps out strategies for carbon neutrality, while solar energy remains a priority. Malaysia could generate up to 4 gigawatts through rooftop installations nationwide, which would significantly reduce dependency on fossil fuels. This aligns with the government’s vision for cleaner transportation, a pivotal move to reduce carbon emissions and promote sustainable development across all regions.
While initial costs remain a challenge, the industry is addressing this with accessible green financing options like solar leasing and zero-interest installment plans. These initiatives make it easier for individuals and businesses to adopt clean energy solutions, fostering wider participation in the country’s sustainability efforts.
The Net Energy Metering (NEM) program, managed by SEDA Malaysia and recently extended by the Prime Minister, encourages the adoption of solar energy across sectors. Since its inception in 2016, NEM has driven renewable energy uptake, and its extension promises even more impact as more Malaysians recognize the value of renewable energy investments.
As Bursa Malaysia highlights the growing importance of Environmental, Social, and Governance (ESG) frameworks in sustainable financing, Malaysia is staying competitive by integrating ESG standards into its economic development. These green initiatives are crucial as the country works toward a carbon-neutral future, where renewable energy benefits all Malaysians, including those in rural areas.
Through public-private partnerships and continuous advancements in green technology, Malaysia is well-positioned to lead in Southeast Asia’s energy transition. Join the movement and explore how Green Xperts can support your renewable energy goals at greenxperts.my
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