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Emerging Solar Market Philippines: 15 GW Of RE By 2030
28th August 2020 @ 3:30 pm - 5:00 pm UTC+8
ASEAN solar sector is going in the right direction as new policies were established in several countries in ASEAN, hoping to spur the growth of solar. Current electricity costs in the Philippines are amongst the highest in Asia, including Japan which makes solar power a much cheaper and economically more advantageous option in the Philippines. The Philippines is a country of 102 million people, and is a relatively fast growing Asian economy. An estimated 16 million people are off the grid with regards to current electricity supply, and this includes approximately 6000 schools. This demonstrates the potential for supplying solar power to the Philippines. The Philippine Government has also committed to a 70% reduction in carbon emissions by 2030 and has a 15.3GW renewable energy target, thus encouraging a large increase in solar power as an energy source.
The Philippines Market has also recently explored floating solar by constructing a testbed in Southeast Asia’s third-largest lake, it 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. 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.
In this event we will discuss the opportunities for Investment, Financing, Challenges and RoadMap for growth of Solar Sector where you can also meet the companies leading innovation and disruption in The Philippine Solar industry.