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Sustainable Energy Solution

Covid-19 has slowed down the investment in renewable development, at least in 2020. 

Over EU, the European Green Deal is gaining more momentum in their economic stimulus agenda; whereas in China, it is expected that the role of coal will regain popularity as priority is to rebuild the economy.

 After this public health crisis, people start wondering about the impact of climate crisis, if it is coming to hit the world population, like what Covid-19 did.

 The IEA (International Energy Agency) is urging the world to accelerate efforts to achieve affordable, reliable, sustainable and modern energy for all.

 Accelerating the pace of progress in all regions and sectors will require stronger political commitment, long-term energy planning, increased public and private financing, and adequate policy and fiscal incentives to spur faster deployment of new technologies. 

 Source: https://www.iea.org/news/covid-19-is-intensifying-the-urgent-need-to-expand-sustainable-energy-solutions-worldwide?utm_campaign=IEA%20newsletters&utm_source=SendGrid&utm_medium=Email
Malaysia as a fossil fuel producer, unlike the European countries, it seems like we do not need to worry about the price of energy supply. This creates a macro environment, which delays the urge to accelerate renewable development in our country. In fact, with the current technology progress, the LCOE for renewable might not achieve complete parity as compared to fossil fuel generation.

 However, if the policy makers is to strategise long-term energy planning, the key agenda proposed by the former MESTECC minister should not be forgone. The relevant acts that she had been working on are Renewable Generation and Energy Efficiency. Besides, she had been using her public influence to promote private financing and fiscal incentives utilisation in green technology development within the country.

 Her works did not manage to expand to reach Grid and Infrastructure Planning as well as Demand Management and Energy Storage, then the government changed in early March 2020 followed by a lockdown to combat Covid-19.
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