Forecast: Renewable Energy Supply (Excluding Solid Biofuels) in Malaysia

The renewable energy supply in Malaysia has shown strong growth, increasing from 1.3 in 2013 to 4.21 in 2023. The forecasted data from 2024 onward indicates continued growth, albeit at a slower pace. Year-on-year variation peaked in 2014 with a 29.23% increase but has since stabilized, with recent years showing consistent growth around 4-5%. The five-year CAGR leading up to 2023 was 6.31%, reflecting a robust expansion in renewable energy supply.

Future trends to watch for include:

• Technological advancements reducing costs and enhancing efficiency in renewable energy production.
• Government policies and incentives aimed at further boosting renewable energy investments.
• The potential impact of geopolitical and economic factors on the renewable energy market.