Techno-economic viability of energy-sharing model for net-zero emissions in the Malaysian corporate sector

Abstract

Achieving net-zero emissions by 2050 requires a transformative approach, with the corporate sector playing one of the significant roles. Transitioning from brown to green energy through innovative solutions like energy-sharing is critical in this journey. Despite global interest in energy-sharing frameworks, detailed assessments of such strategies remain scarce in Southeast Asia, particularly in Malaysia. Previous studies in this country have focused on optimizing solar PV and storage systems, neglecting the potential of integrated energy-sharing model and the adoption of Renewable Energy Certificates (REC) for energy trading. This research addresses this gap by proposing a techno-economic and environmentally viable energy-sharing model tailored for Malaysian Corporate Consumers (MCC), aiming to maximize financial and environmental benefits. The HOMER grid software is used to develop and simulate energy-sharing configurations, including (i) grid-connected Solar-Power-Plant (SPP), (ii) grid-connected SPP with Battery-Energy-Storage-System (BESS), and (iii) grid-connected BESS. Technical analysis identifies optimal SPP capacities to reduce MCC utility dependency, highlighting the potential of integrating BESS with SPP. Economic outcomes are evaluated for varying SPP sizes and BESS capacities at real-time System Marginal Price (SMP) as green energy tariff rate. Results show that grid-connected SPP with BESS projects are profitable at 5% Energy-Storage-Output-to-SPP-Output-Ratio (R), with 25-MW achieving the highest Net Present Value (NPV). Integrating BESS enhances SPP’s environmental performance, reducing CO₂ emissions by up to 25% compared to grid-connected SPP configurations. This research serves as a crucial guide for stakeholders and policymakers by demonstrating net-zero emissions initiatives through REC implementation in the energy-sharing landscape.