Renewable electricity generation excluding hydroelectricity in Malaysia has shown a continuous growth trend from 2013 to 2023, though with variations in the growth rate. In 2023, the generation stood at 0.92 Units of Electricity Production. Over the last two years, the year-on-year variations were 2.94% in 2022 and 2.8% in 2023. The last five years demonstrated a compound annual growth rate (CAGR) of 3.11%, indicating a steady and moderate increase.
Future trends to watch for include:
- An expected CAGR of 1.9% over the next five years, marking a slight deceleration in growth.
- Projected growth rate of 9.89% by 2028 suggesting a continued, albeit slower, increase in renewable electricity generation.
- Technological advancements and policy changes could significantly impact future growth rates.