Malaysia’s solar power to surpass 6.5GWs by 2029

However, solar module prices are expected to trend up to US$0.13 per watt.

Malaysia’s total solar photovoltaic (PV) installed capacity is expected to exceed 6.5 gigawatts from 2026 to 2029, according to a UOBKayHian report.

It is being driven by the government's calls for tenders for the Large-scale Solar 6 bidding programme and the rollout of corporate renewable energy supply scheme (CRESS) projects.

With a construction cost of $509,100 to $890,926 (RM2m to RM3.5m) per megawatt, total replenishment costs are estimated at $3.31b to $5.85b (RM13b to RM23 b) over the next five years.

However, solar module prices are expected to trend up to US$0.13 per watt following China’s removal of value-added tax export tax rebates for PV products.