Industrial & Green Energy
Malaysia’s strong economic growth has been closely tied to an energy policy that has put affordable and accessible electricity at the forefront of government policies Malaysia’s energy policy greatly depends on exploiting domestic fossil fuel sources. Recently, the Malaysian government has recognized the need to diversify and make its energy mix more efficient to meet future increasing demand, especially from industry and residential sectors. Malaysia has steadily been building standardized frameworks from which to actively promote a variety of renewable energy sources. Key policies in place that have a wide impact on the majority of renewable energy technologies beginning with the Renewable Energy Act 2011, most notably producing a renewable energy Feed-in-Tariff m echanism (FiT).
The Renewable Energy resources eligible for FiT are:
a). Biomass (including solid waste)
b). Biogas (including landfill gas & sewage)
d). Solar PV.
The FiT guarantees payment for all electricity the producer’s system has generated, plus an additional payment for exported unconsumed electricity to the national security grid. Additional FiT rates will be given for those renewable energy installations that meet the criteria entitling it to additional bonus FiT rates. Malaysia is ideal for large scale solar power installations due to its location near the earth’s equator. Hence, Finbridge has started to get involved in the R&D of solar PV technology since the year of 2016 and will work tirelessly towards enhancing the efficiency of the products.