Forecast: Renewable Energy Supply in Malaysia

Renewable energy supply in Malaysia has shown a steady increase from 2013 to 2023, rising from 1.98 to 3.92 units in total primary energy supply. The initial growth period from 2013 to 2017 was marked by significant year-on-year increases, peaking in 2016 and 2017 with growth rates of 24.66% and 23.38%, respectively. However, more recent years displayed a plateauing trend, with marginal increases below 1% from 2021 to 2023. The Compound Annual Growth Rate (CAGR) has been declining over the last few years, from a high of 11.49% in 2018 to 2.83% in 2023.

Future trends to watch for:

• The forecast growth is marginal with a 5-year CAGR of 0.1% and a forecast 5-year growth rate of 0.51%, indicating a stabilization in the renewable energy supply.
• Policy developments, technological advancements, and investment in renewable infrastructure could influence the trajectory, potentially revamping growth rates.