The Energy Commission of Malaysia estimated the historical demand growth trend for electricity in Malaysia to be around 2.5 percent per year. The Malaysia Generation Development Plan 2019 projected that electricity demand for 2020-2030 is expected to grow at 1.8 percent per annum. Over this same period, Malaysia will need about 10.0 GW of new capacity to meet its demand growth, which will require replacing retiring plants and ensuring system reliability. The government has also announced that it will not approve any new coal-fired power generation plants.
The Malaysian government is seeking to expand battery energy storage systems (BESSs) with a total capacity of 500MW from 2030 onwards to reach ambitious solar energy targets. These battery energy storage systems will enable storing of excess energy generated by solar panels for later use. Market opportunities for U.S. companies exist for utility-scale battery storage systems and energy storage solutions for the power sector – mainly hydropower and solar power.
Many commercial and industrial buildings are adopting energy digitalization, with business owners looking to lower energy costs mainly through solar setups. Digitization can enable "smart" industrial facilities by providing new sources of flexible loads for energy needs. Market opportunities for U.S. companies exist in cloud-based and Artificial Intelligence of Things (AIoT)-enabled source that connects energy data within the building and operations data in a single platform, converting data into business intelligence.
The Malaysian government is seeking ways to grow its national grid to be a smart, automated, digitally-enabled grid. Malaysia is looking for solutions that ensure greater cost efficiency, reliability, and customer satisfaction than can be achieved with centralized grids. Market opportunities for U.S. companies exist for smart meters, grid technologies and systems, and transmission & distribution systems.
U.S. exporters have opportunities when supplying equipment to support measures to produce energy from renewable resources for on-site consumption. Those resources can include biogas, hydropower, solar energy, and wind power equipment that aids in power optimization and performance tracking.
TheInternational Trade Administration,U.S. Department of Commerce, manages this global trade site to provide access to ITA information on promoting trade and investment, strengthening the competitiveness of U.S. industry, and ensuring fair trade and compliance with trade laws and agreements. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. This site contains PDF documents. APDF readeris available from Adobe Systems Incorporated.
Citaglobal Genetec BESS Sdn Bhd, a 50:50 joint venture (JV) between Citaglobal Bhd and Genetec Technology Bhd, on Tuesday (April 11) unveiled the country''s first locally developed and produced battery energy storage system by showcasing its fully operational one-megawatt BESS prototype (MYBESS), which it piloted in end-2022 and now supports the energy needs of Genetec’s EPIC plant.
The latest development follows the October 2022 agreement between Citaglobal and Genetec to develop battery storage management systems to store and manage excess power from renewable energy (RE) generation.
"MYBESS caters to different industry verticals — from transport, manufacturing, energy supply and distribution, to telecommunications —especially in grid integration to manage intermittent RE resources, which remains a challenge," according to Citaglobal Genetec BESS chairman Tan Sri Dr Mohamad Norza Zakaria.
"In short, this battery energy storage system solves many of our existing challenges in the distribution of power, storage, scalability and portability. When combined, the scalability and portability of the battery energy storage system solution, with an RE source such as solar, allow businesses and communities to get around challenges found within conventional electrification. It is a viable and cost-competitive product," he said during the launch of the battery energy storage system at Genetec’s EPIC Plant here.
Meanwhile, International Trade and IndustryMinister Tengku Datuk Seri Zafrul Abdul AzizsaidMYBESS will help catalyse the local RE ecosystem and the decarbonisation of the country''s economy over the middle to longer term.
"MYBESS is not only a step to support Malaysia''s [future] RE security, but also an important opportunity to begin positioning Malaysia in high-technology industries, and higher in the global value chain," the minister added.
Genetec founder and managing directorChin Kem Weng commented that he sees opportunities to supply the locally developed end-to-end battery energy storage system solution in neighbouring Asian countries.
“The idea is, we want to use MYBESS to replace the genset, because the genset is costly and unreliable. We see more people are now focusing on the ESG agenda, and going green.
"We have been scaling our readiness to support large orders and rising demand, as countries and companies across different industries fast-track their RE plans. Currently, we are engaging with a lot of potential customers. The opportunities are huge, especially in the Asian region. We will tap into the global region when we are ready,” Chin elaborated.
At Tuesday''s noon break, shares in Citaglobal finished up three sen or 2.07% at RM1.48, giving it a market capitalisation of RM561.76 million. Genetec was five sen or 1.76% higher at RM2.89, with a market value of RM2.17 billion.
About Malaysia energy storage market
As the photovoltaic (PV) industry continues to evolve, advancements in Malaysia energy storage market have become critical to optimizing the utilization of renewable energy sources. From innovative battery technologies to intelligent energy management systems, these solutions are transforming the way we store and distribute solar-generated electricity.
When you're looking for the latest and most efficient Malaysia energy storage market for your PV project, our website offers a comprehensive selection of cutting-edge products designed to meet your specific requirements. Whether you're a renewable energy developer, utility company, or commercial enterprise looking to reduce your carbon footprint, we have the solutions to help you harness the full potential of solar energy.
By interacting with our online customer service, you'll gain a deep understanding of the various Malaysia energy storage market featured in our extensive catalog, such as high-efficiency storage batteries and intelligent energy management systems, and how they work together to provide a stable and reliable power supply for your PV projects.
Related Contents
