Part 2:Issues and ChallengesThe NETR faces several key challenges including the high cost of energy transition, lack of awareness and demand, technical and commercial feasibility issues, the undesirable consequences associated with fossil-fuel transitioning campaign on Malaysia's economy, as well as global uncertainties. The high cost of energy transition requires a total financing of at least RM1.2 trillion (Euro 0,25 trillion). The report said it is one of the main challenges in achieving the targets outlined in the NETR by 2050. "About 63 per cent of this funding is primarily needed for RE and green mobility. Investments in RE, which includes power generation and grid network will involve expanding solar PV and hydropower as well as enhancing grid infrastructure," it said. Meanwhile, green mobility funding focuses on expanding public transportation, boosting domestic EV production, and increasing EV charging infrastructure. Significant investments are also necessary to scale up nascent hydrogen and CCUS technologies, alongside commitments to improve energy efficiency, advance sustainable aviation and marine transports, as well as establishing green skilling programmes. Investments in RE which include grid network costs about RM170 billion and for power generation the cost will be about RM260 billion (Euro 54,96 billion). "Another significant challenge is the lack of awareness and demand due to misconceptions on the benefits of transitioning to sustainable energy. It is often perceived that sustainable energy is costly and less reliable compared to conventional sources. "This has resulted in the averseness of industries, businesses and households to invest and procure energy-efficient technology and products," the report added. Both technical and commercial feasibility also pose significant challenges to the energy transition. Shortage of expertise, particularly in green technologies, and the high capital expenditure as well as scarcity of resources would further impede the pathway to net-zero. On another note, the development of the CCUS in Malaysia has yet to reach commercial scale, due to challenges arising from both the technology's nascent status and associated high cost. The report also said that another inevitable challenge is the international commitment to move away from fossil fuels, as deliberated at the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC - COP28). This historic milestone has intensified the call to reduce investments in fossil fuel industries particularly in energy sector. "While this supports the net-zero transition pathway, the challenges for Malaysia is to ensure the economic activities will not be affected with the call since energy is one of the key enablers for economic growth." (ICE KUALA LUMPUR)

Fonte notizia: 29 Ottobre 2024