Yeo: Malaysia can save at least RM47bil over 15 years by being more energy efficient

There are many others that are unable to meet their obligations and they were all previously under Ministry of Finance Inc (MoF). Towards this end, the government has now placed many of the funds under the Energy, Science, Technology, Environment and Climate Change Ministry, led by Yeo Bee Yin(pic).

KUALA LUMPUR: The nation stands to save a minimum of RM47bil over the next 15 years if becomes more energy efficient, says Minister of Energy, Green Technology, Science, Climate Change and Environment Minister Yeo Bee Yin (pic).

To work towards this, 50 government buildings will be retrofitted with energy efficient lightings and appliances by next year.

"Studies show the potential savings the nation can achieve in improving energy efficiency between 2016-2030 of a minimum of 137,775GWh (Gigawatt hours) will amount to RM46.92bil in savings," she said during her ministerial reply on issues raised during debates on the mid-term review of the Malaysia Eleventh Malaysia Plan on Thursday (Nov 1).

Yeo said that between RM160mil and RM200mil were awarded through Energy Performance Contract (EPC) to retrofit the government buildings.

Under the contract, she said energy service companies will fund works to retrofit the government buildings with energy efficient chillers and LED lighting.

She added the amount of savings on electric bills would be shared between companies and the government.

To further boost energy efficiency, Yeo said that the government is in the process of drafting the Energy Efficiency and Conservation Act, which will be presented to lawmakers for their feedback next year.

"Besides this, we are also reviewing to improve the National Energy Efficiency Action Plan 2016-2025," she added.

Yeo noted that the use of electricity in buildings represent 50% of total electricity use in Malaysia, which held vast potential for energy efficiency and cost saving.