The Future of Solar Power in the Philippines
In a world that’s hungry for energy but increasingly wary of the damage that generating power can do, solar might just be the answer: clean energy that’s cheap and virtually endless. The Philippines is starting to take advantage of this clean energy and many solar companies in the Philippines were benefit on this.
“The Philippines just like some of its neighbors is also dependent on imports of coal, oil and gas for most of its energy needs. This dependence and the growing energy needs have incentivised the government to started looking at renewable energies, such as solar power as possible alternatives. However, despite government willingness progress has been slow. For example, despite passing a law in 2008 to encourage higher use of renewable energy by 2011 renewable capacity had only increased by 118MW.
One of the reasons renewable energies have been seen slow growth is that investment on this industry is not seen as offering the same investment returns as fossil fuels. In addition to costs, investment has been affected by the slow approval process. For this reason, solar industry officials have started putting more pressure on the government to increase investment incentives and process project permits faster.
The Philippine Solar Power Alliance wants the government to quadruple the size of its tariff from 500MW to 2GW. It believes that increase the solar capacity limit and smoothing the approval process will pave the way for an estimated US$4 billion in solar projects currently under consideration, as well as having the potential to tackle the growing demand in power supply.” – Read the full article here
“The Philippines has strong potential in harnessing solar energy, both for consumer use and power production, given the continued drop in prices and further innovation in the field. In addition, the country is prepared to join the solar power revolution, mainly due to its geographical location within the two Tropical Zones. It is well known that the archipelagic geology of the Philippines poses unique challenges in the distribution of solar power energy, and it is acknowledged that the Philippines should be very able to adapt a solar energy system for the country. However, the Philippines needs to improve the existing infrastructure, maintenance and connected technologies to ensure that this will work.
It is also acknowledged that it will be important to develop the correct energy management technology along with a solar power system that is built and developed in the Philippines, and has the potential to become a basis for other tropical island nations, should they wish to adopt this solar power system.
At the same time, the private sector should also look into developing renewable energy projects, and developers should consider the opportunities as the Philippines integrates renewable energy development into its government regulations.” – READ the full article here
This is the time we switch to renewable energy and the potential business opportunities of solar energy in the Philippines is growing. There has been a general expansion in solar power generation in Asia as opposed to Europe and the rest of the world, and ASEAN countries, including the Philippines, have a greater growth potential. Current electricity costs in the Philippines are the highest in Asia, including Japan. This makes solar power a much cheaper and economically more advantageous option in the Philippines.