Solar Photovoltaic Panels in Malaysian Homes: An Economic Analysis and Survey of Public Opinion
The situation of solar energy in Malaysia is examined in this article, with a focus on solar photovoltaic (PV) installations in Malaysian homes. It examines Malaysia's historical solar energy initiatives in terms of R&D, deployments, and national policy during the previous two decades, all of which have affected PV installation in the country. The New Energy Metering system (NEM) policy, as well as a cost-benefit analysis of PV installations for Malaysian homes are addressed. A preliminary survey of public opinion was performed to better understand public perceptions of clean energy policies and advantages, as well as an evaluation of public willingness to join in the NEM policy by installing PV on their homes. The NEM policy will give a reasonable return on investment, according to the cost-benefit analysis. While PV solar energy has the potential to be a viable alternative, Malaysian families face a number of challenges, including high costs, a lack of physical and financial resources, a lack of expertise, and a lack of social support. According to the survey, the majority of respondents are ignorant of the government's clean energy subsidies and strategies, and are unable to participate in the NEM policy.
Keywords: New Energy Metering (NEM), Solar PV, Cost-Benefit Analysis, Clean Energy, Malaysia
JEL Classifications: O13; O33; D12; Q21; Q56