TY - GEN
T1 - Least Cost Option for Optimum Energy Penetration in Malaysia
AU - Cheok, Jia Jun
AU - Tan, Andrew Huey Ping
AU - Yap, Eng Hwa
AU - Wong, Kok Cheong
AU - Goh, Boon Hoe
N1 - Publisher Copyright:
© 2021, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
PY - 2021
Y1 - 2021
N2 - Malaysia is one of the few developing countries rich in natural resources and it aims to achieve a high renewable energy penetration by the end of 2030. Malaysia’s energy sectors are rapidly evolving due to increasing energy demand in the country. Therefore, the use and development of renewable energy should be emphasized, not only to reduce its dependence on fossil fuel resources, but also to reduce the impact of fossil fuels on climate change. This study aims to comprehensively review renewable energy resources and non-renewable energy resources that can be utilised at least possible costs. Malaysia currently relies heavily on fossil fuels such as natural gas, coal and crude oil for its energy production. This paper explores the energy sector in Malaysia in broad terms, and particularly examines the diversification of its energy production to achieve a least cost configuration. The roles of renewable energy and nuclear energies as alternatives to close the gap of depleting fossil fuels and growing energy demands to improve energy supply security in fuel diversification are also explored using system dynamics to provide a clear understanding of the least cost option for an optimum energy penetration for Malaysia.
AB - Malaysia is one of the few developing countries rich in natural resources and it aims to achieve a high renewable energy penetration by the end of 2030. Malaysia’s energy sectors are rapidly evolving due to increasing energy demand in the country. Therefore, the use and development of renewable energy should be emphasized, not only to reduce its dependence on fossil fuel resources, but also to reduce the impact of fossil fuels on climate change. This study aims to comprehensively review renewable energy resources and non-renewable energy resources that can be utilised at least possible costs. Malaysia currently relies heavily on fossil fuels such as natural gas, coal and crude oil for its energy production. This paper explores the energy sector in Malaysia in broad terms, and particularly examines the diversification of its energy production to achieve a least cost configuration. The roles of renewable energy and nuclear energies as alternatives to close the gap of depleting fossil fuels and growing energy demands to improve energy supply security in fuel diversification are also explored using system dynamics to provide a clear understanding of the least cost option for an optimum energy penetration for Malaysia.
KW - Feed-in-tariff
KW - Malaysia
KW - Renewable energy
KW - System dynamics
UR - http://www.scopus.com/inward/record.url?scp=85104452504&partnerID=8YFLogxK
U2 - 10.1007/978-981-15-9505-9_13
DO - 10.1007/978-981-15-9505-9_13
M3 - Conference Proceeding
AN - SCOPUS:85104452504
SN - 9789811595042
T3 - Lecture Notes in Mechanical Engineering
SP - 131
EP - 142
BT - Recent Trends in Manufacturing and Materials Towards Industry 4.0 - Selected Articles from iM3F 2020, Malaysia
A2 - Osman Zahid, Muhammed Nafis
A2 - Abdul Sani, Amiril Sahab
A2 - Mohamad Yasin, Mohamad Rusydi
A2 - Ismail, Zulhelmi
A2 - Che Lah, Nurul Akmal
A2 - Mohd Turan, Faiz
PB - Springer Science and Business Media Deutschland GmbH
T2 - Innovative Manufacturing, Mechatronics and Materials Forum, iM3F 2020
Y2 - 6 August 2020 through 6 August 2020
ER -