Connect with us

Hi, what are you looking for?

News

PHL lags ASEAN in solar, wind energy generation — think tank

Coca-Cola’s Davao Del Sur plant with close to 4,000 solar panels installed by TeaM Energy

THE PHILIPPINES lags regional peers in terms of the share taken up by solar and wind energy in its power mix, energy think tank Ember said in a report on Thursday.

The Philippines accounts for 10% of power generated in the region, but solar and wind made up only 2.6% of its power mix in 2021, it said.

This is below the 4% average across the Association of Southeast Asian Nations (ASEAN) and the 10% global average, Ember said.

Despite having the second-highest demand growth in the region, only 12% of total electricity demand in the Philippines was serviced by clean sources, it said.

Electricity demand between 2015 and 2021 rose 31%, of which 88% was serviced with fossil fuels, the report added.

While clean electricity generation nearly doubled, power generated from coal power rose 75%.

The share of solar and wind grew from 1.1% to 2.6% during the period, but this was offset by the growth in the share of coal from 27% to 47%, it said.

According to Ember, the Philippine power sector’s CO2 emissions rose accordingly by 42%.

Ember projects the Philippines to increase the share of power generated from solar and wind energy to 16.5% by 2030.

According to the Philippine Energy Plan (2020-2040), the Philippines plans to install an additional 0.76 gigawatts of wind and 18.5 gigawatts of solar power.

Ember said even with these augmentations, solar and wind will only satisfy 38% of the Philippines’ demand in the upcoming decade.

“Solar and wind need to grow rapidly in ASEAN nations, especially considering that they are currently the most economical and fastest way to replace coal,” Ember said. — Diego Gabriel C. Robles

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Financial Advisors

The healthcare ecosystem is one that has thrived on the cusp of scientific progress, benefitting enormously from the winds of change in the technological...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.