THE APPRAISAL OF ENERGY POLICIES AND POTENTIAL OF RENEWABLE ENERGY AS ALTERNATIVE SOURCE OF ENERGY IN MALAYSIA

Emerging conditions form record high soaring prices of oil in year 2008 and precedent oil crisis of 1970 has set the world to face the energy crisis, looming over a four decades. These conditions become more provoked in scenario of rapid globalization and race for higher economic gains positioned the energy sector at pivotal position to retain the economic competitiveness and progress in developing countries. The mission to accomplish the developed status in world and to maintain higher rate of economic growth, importance of formal and alternate energy sector has grown many folds in Malaysia. Up to this time Malaysia has managed to take advantage from its energy resources such as oil and natural gas. In order to achieve the uninterrupted flow of energy and resource friendly energy solution, Malaysia is striving hard to develop and search the alternate source of energy to sustain and fuel its economic growth engines.