KUALA LUMPUR, Jan. 10 (Xinhua) -- Some 91 percent of businesses in Malaysia expect electricity consumption to increase by 2028 as renewables, digitalization and artificial intelligence (AI) scale, professional services firm EY said in a recent statement.
The firm said that 75 percent anticipate more complex energy needs driven by rising and unstable energy costs (68 percent), availability and reliability concerns (80 percent), and decarbonization imperatives (82 percent).
This shift is fueled by electrification, the adoption of electric vehicles (EVs), and digital technologies such as automation and AI.
The findings come as Malaysia accelerates its National Energy Transition Roadmap (NETR), which aims for 70 percent renewable energy by 2050.
The survey also found that businesses that are responsible for more than 75 percent of the country's electricity demand are ready to invest in clean energy solutions.
It showed that over 83 percent of companies plan to increase investment in electrifying operations, lowering emissions, and reducing energy costs.
About 72 percent are considering on-site renewable installations such as rooftop solar panels, while more than half (54 percent) are exploring opportunities to sell surplus energy back to the grid.
It noted that energy ambitions also vary across industries. Over 90 percent of manufacturing and information technology (IT) businesses expect double-digit growth in electricity use.
Meanwhile, more than a quarter of businesses, topped by retail and transportation companies, rank sustainability as their top energy goal. Construction firms are also emerging as leaders in on-site generation adoption.
"Energy is now a competitive asset. Businesses that embrace smarter, greener solutions will unlock growth and resilience. Collaboration between companies, energy providers, and policymakers is critical to Malaysia's energy future," said Mark Bennett, EY Asia-Pacific energy & resources customer experience transformation leader and partner at Ernst & Young Consulting Sdn. Bhd. ■
