KUALA LUMPUR, Nov 10 (Bernama) – Government initiatives that support the use of Internet of Things (IoT) in the energy industry is a strategic move to boost efficiency and drive sustainable growth, Association of Internet-of-Things Malaysia treasurer Pathmanathan Muniandy said.
Government involvement is greatly needed as companies might view new technologies such as IoT as additional costs that could reduce short-term gains.
“The government plays an important role in educating industries about the long term benefits of energy efficiency,” he said in a statement today, adding that initiatives such as the Energy Efficiency and Conservation Act (EECA) and the Malaysian Renewable Energy Roadmap (MyRER) help companies realise that such an approach was not a burden but an investment for sustainable growth.
He pointed out that IoT enables monitoring and analysis of energy use in real time, and allows companies to make continuous improvements, and combined with artificial intelligence, it would help industries identify areas for improvement, which would boost the country’s competitiveness.
He suggested that the government offer various incentives, including subsidies, tax relief and grants to reduce implementation costs especially for small and medium enterprises.
He noted that with the government and industry sectors working together, the country could achieve the goal of energy efficiency without affecting its economic competitiveness.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
