Malaysia Solar Sector on the Rise
|DATE||: 12 OCTOBER 2019|
|WRITER||: Jason Thomas|
|PUBLISHER||: The Asean Post|
Malaysia’s solar photovoltaics (PV) industry is on the rise thanks to strengthening government support, growing investor confidence and reducing costs.
Already ASEAN’s biggest solar PV employers, Malaysia’s solar sector is well poised for more growth given the favourable conditions that are developing.
Besides having relatively high irradiation levels, Malaysia already has an established solar manufacturing sector, although most of the solar equipment used is exported at present.
“The expanding domestic manufacturing base for renewables components will ensure that there is a reliable and low-cost supply chain for project developers amid global falling technology costs,” noted Fitch Solutions Macro Research in a report last month.
“We believe that this will be a key supportive factor to the Malaysian solar industry over the coming year, as greater numbers of manufacturers set up in the country,” added the credit rating agency.