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Solar Photovoltaic Panels in Malaysian Homes: An Economic Analysis and Survey of Public Opinion

Author

Listed:
  • Md Muhibbullah

    (Department of Economics, Faculty of Economics and Management Science, International Islamic University Malaysia.)

  • Rafia Afroz

    (Department of Economics, Faculty of Economics and Management Science, International Islamic University Malaysia.)

  • Jarita Duasa

    (Department of Economics, Faculty of Economics and Management Science, International Islamic University Malaysia.)

Abstract

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.

Suggested Citation

  • Md Muhibbullah & Rafia Afroz & Jarita Duasa, 2021. "Solar Photovoltaic Panels in Malaysian Homes: An Economic Analysis and Survey of Public Opinion," International Journal of Energy Economics and Policy, Econjournals, vol. 11(6), pages 454-464.
    • Handle: RePEc:eco:journ2:2021-06-52
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    More about this item

    Keywords

    New Energy Metering (NEM); Solar PV; Cost-Benefit Analysis; Clean Energy; Malaysia;
    All these keywords.

    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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