Professor Wing Thye Woo of Liaoning University has recently published his paper titled Optimising Malaysia's Power Mix for a Sustainable Future: A Multi-Scenario Modelling Approachin the Fulbright Review of Economics and Policy (FREP).
About FREP
The Fulbright Review of Economics and Policy (FREP), published byEmerald Publishing, is a high-caliber international academic journal committed to disseminating cutting-edge research in economics and public policy. It provides a platform that bridges economic theory and policy practice, emphasizing key issues in emerging and developing economies.
Abstract:
This study employs advanced modeling techniques to evaluate Malaysia's current energy policies and explores pathways for achieving a sustainable, low-carbon power mix. Using innovative tools like the Low Emissions Analysis Platform (LEAP) and the Next Energy Modeling System for Optimization (NEMO), the research proposes scenarios for optimizing Malaysia’s renewable energy strategy.
Key findings include:
Solar photovoltaic (PV) technology dominates the decarbonization pathway, though grid upgrades and storage solutions are essential for maximizing its potential.
Natural gas expansion serves as a transitional decarbonization measure, yet clean energy advancements pose risks of stranded assets.
Leveraging Malaysia’s abundant bioenergy resources could further enhance rural development and reduce carbon emissions.
The transition to a fully renewable energy grid requires significant investment in storage and infrastructure, with risks mitigated by falling battery costs and regional interconnectivity.
The research highlights uncertainties, including fluctuating technology costs and resource availability, which could influence decarbonization strategies. Future studies could expand upon these insights with sensitivity analyses.
Author Biography:
Wing Thye Woo is a distinguished economist holding a PhD from Harvard University and currently a professor of economics at the University of California, Davis. He also serves as a Senior Fellow at the Brookings Institution and Director of the East Asia Program at Columbia University. Renowned for his contributions to macroeconomics, international finance, and economic development, Professor Woo has authored approximately 150 papers in esteemed journals, such as theAmerican Economic Reviewand theJournal of International Money and Finance. His works have shaped economic policies worldwide, particularly in areas of globalization and East Asian economic growth.
Read the Full Paper:Optimising Malaysia's Power Mix for a Sustainable Future
