Exploring Risk Management Activities for Solar PV: A Preliminary Investigation in Malaysia

Solar photovoltaic (PV) is the most popular renewable energy for sustainable environment. Despite of the benefits, achieving the objectives of solar PV can be hampered by the potential risks. In Malaysia, solar PV is projected to be the main source of renewable energy by 2040;however the issue on risk is still underexplored. With limited information at hand, it would be relevant to first explore the relationships between risk management and solar PV prior to anyin-depth investigation. Inspired by the Risk Management Principles and Guidelines,this pilot study has prepared the research framework and hypothesis for the preliminary investigation. The questionnaire was sent to solar PV firms in Malaysia, where the analysis has found mixed results. In fact, only one relationship between risk context and solar PV was significantlypositive, while the other five hypotheses, namelyrisk identification, risk analysis, risk evaluation, risk communication, and risk monitoring, although also positively correlated with solar PV have to be rejected for being statistically insignificant. Meanwhile, a relationship between risk treatment and solar PV was correlated in a negative way, but the result was rejected. Despite of that, all risk management activities are positively correlated to each other. This pilot study has gathered some basic information on risk management for solar PV in Malaysia. With the findings, this study has come up with four critical questions that deserve further attentionbefore pursuing for anylarge- or full-scale empirical study.