Factors that affecting renewable energy demand in Malaysia / Nurain Humaira Azmir

This paper studies the relationship between financial development and renewable energy demand in Malaysia over the period of 1999 to 2018. Energy is the foundation that sustains and propels a country's socioeconomic progress. It is a fact that development cannot occur in the absence of energy, and that sustainable development cannot occur in the absence of sustainable energy. Malaysia, as a country aiming to become a high-income nation by 2025, is in a difficult position when it comes to formulating an energy security policy to assure long-term economic development. The Sustainable Development Goals 7 (SDG 7) will be critical in Malaysia's efforts to attain clean and efficient energy by 2030. Furthermore, this study will concentrate on Malaysia for 20 years. The findings of this study will indicate which independent variables will have an impact on renewable energy consumption.
Keywords: Malaysia, Renewable energy consumption, Financial development, Trade openness, Consumer price index, Total population