Abstract—Rapid depletion of fossil fuel reserves as well as
climate change has driven the world including Malaysia towards
renewable energy (RE) sources which are untapped and
environmentally friendly. Through a feed-in-tariff system,
Malaysia has set a target of increasing its RE capacity to 11 % of
total capacity mix of electricity generation by year 2020. The
system is supported with five strategic thrusts (ST) of National
RE policy which include providing a conducive business
environment for RE (ST2). Despite the existence of ST2, to the
knowledge of this research, there has been no effort being made
to better understand the variety of decisions taken by Malaysian
RE investors to invest in RE. Through a review of RE literature,
this study develops an integrated decision making model, to be
tested on Malaysian RE investors, by using Theory of Planned
Behavior as the underlying framework. The theory is then
modified to incorporate previous drivers introduced in previous
RE literature that largely based on behavioral finance and
institutional theory. Given that RE in Malaysia is currently
reported at only at 1 % of total capacity mix as compared to the
11 % target, the model will help Malaysian regulators to better
leverage all drivers that stimulate RE investment and design a
more conducive business environment for RE.
Index Terms—Renewable energy, investment, decision
making, Malaysia.
The authors are with the Department of Accounting, National Energy
University, Malaysia (e-mail: hayati@uniten.edu.my,
bakhtiar@uniten.edu.my).
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Cite:N. Mat Husin and B. Alrazi, "Renewable Energy Investment in Malaysia: An Integrated Model in Evaluating Public Decision Making Process," Journal of Clean Energy Technologies vol. 5, no. 4, pp. 343-346, 2017.
