The Role of Current and Future Renewable Energy Policies in Fortifying Malaysia’s Energy Security: PESTLE and SWOT Analysis through Stakeholder Engagement
Keywords:
Renewable energy, Policy, Stakeholder, PESTLE, SWOT, Qualitative data analysisAbstract
Renewable Energy (RE) is a vital source of energy for the future. Measuring the levels of RE penetration is now an important indicator to ascertain the environmental sustainability dimension in the context of Energy Security (ES) that supports Malaysia’s goal to move towards a low-carbon and greener economy. In this study, the role of RE policies in fortifying Malaysia’s ES has been assessed through deep engagement with stakeholders from Malaysia, the Philippines, and Singapore. A semi-structured interview was conducted individually with 16 stakeholders with more than 10 years of experience in the field of ES and sustainability. A PESTLE framework and SWOT analysis were utilized to analyse the data collected on RE for Malaysia’s ES. Results suggested that the strengths of RE in Malaysia lie in government policies to increase its penetration at a faster rate and to adopt more RE technologies soon, while the main weakness lies in the intermittency issue of RE, integration within the national grid, and the strategies to reach the targets set in the policies. There are vast opportunities in terms of geographical location for solar and marine RE exploration, availability of regulatory body for RE via Sustainable Energy Development Authority (SEDA) in Malaysia, a gradual decrease of RE deployment cost, and improving RE technologies. While the threats remain at the capital cost of RE projects, the high per-unit cost of RE as fuel and fear of unstable supply that can disrupt the national grid and hence loss of consumer confidence.
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