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Philippines Rushes Solar to Fight Soaring Energy Bills
29 Jun
Summary
- Philippines leads world in solar panel spending due to high electricity prices.
- Residential electricity prices are highest in Southeast Asia, with no subsidies.
- Panel imports surged 145% as demand for rooftop solar installations increased.
Facing record-high electricity prices, the Philippines has become the world's top spender on solar panels. Residential power costs, already the highest in Southeast Asia and lacking significant subsidies, saw a further 10% increase since late February due to regional conflict. This has driven a rush towards rooftop solar installations.
In the three months ending in May, imports of solar panels rose by 145% compared to the previous year. Installers report a dramatic increase in customer inquiries, with many deciding on installations much faster than before. Experts predict distributed solar capacity could nearly triple within two years.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
