Forecast: Solar Energy Capacities in Malaysia

Over the past decade, Malaysia's solar energy capacity has shown robust growth. By 2023, the capacity stood at 2080 MW, reflecting significant expansion from 138.67 MW in 2013. Key periods include 2018-2020, with notable annual increases of 38.4%, 63.91%, and 65.92% respectively. However, growth has decelerated in recent years, with 2022 and 2023 showing increases of 8.18% and 7.53% respectively. Over the last five years, the compound annual growth rate (CAGR) was 30.69%.

Looking ahead to 2028, forecast trends predict a more moderate growth pace, with a 5-year CAGR of 4.59% and an overall growth rate of 25.17%. This suggests a stabilizing phase for Malaysia’s solar energy expansion.

Future trends to watch for include:

- Integration of advanced solar technologies.- Policy shifts impacting renewable energy incentives.- Potential influences from external energy markets.