Malaysia to Benefit from the Growing Global Demand for Solar Power

solar power
Image Source: Slimdandy, CC BY 2.0

Malaysia, which is a major exporter of photovoltaic (PV) systems, is forecasted to benefit from the indirect effects of the growing demand for solar power around the world, which is expected to experience significant growth over the next five years.

During a press conference after the PV Celltech 2017, Malaysian Investment Development Authority (MIDA) CEO Datuk Azman Mahmud stated that Asia would see the addition of 37 gW of power generated from PV systems. He said:

“The country has the necessary solar eco-system to obtain a market share of the growing solar power business in the region.

“Ranked as the world’s third largest producer of PV cells and modules, Malaysia has an ecosystem comprising 250 companies involved in upstream activities such as poly silicon, wafer, cell and module production and downstream activities such as inverters, and system integrators.

“In 2016, according to a Mida survey, export and local sourcing activities undertaken by the top solar companies in the country was valued at RM11.1bil and RM1.42bil respectively. “We export over 80% of PV products to Europe, US and Asia.”

Mahmud also went on to announce that MIDA is going to launch the “Malaysian Solar PV Roadmap 2030” program at the end of 2017 to drive the country’s solar power industry forward. According to him, the country aims to generate 2,080 mW of energy from renewable sources by 2020.

Moreover, he said that MIDA is already talking with international PV manufacturers that are interested in investing in Malaysia.