While it is possible for the Philippines to run on 100% renewable energy (RE), the transition may take decades, and the help of other energy sources is needed, Solar Philippines founder and CEO Leandro Leviste said.
“The key is [that] any energy transition takes decades. In our lifetime, 100% RE, not just solar, but wind and other improving technologies will also become part of the mix. But none of this happens overnight and the existing sources of energy will be needed for the transition,” Leviste said in the latest episode of Power Podcast.
Leviste said that the transition towards RE can happen in 30 years’ time, though there are still conventional power plants that are in existence or are under construction that would need to run their “useful life.” But given the country’s growing power demand, solar farms can come in and meet the increasing requirement.
“The growth in demand which will be met by a growth in supply that we think solar will be best positioned to compete in because of the low cost of solar panels,” Leviste said.
Data from the Independent Electricity Market Operator of the Philippines (IEMOP) shows that 113 gigawatt-hours or 1.8% of power generated in January came from solar. IEMOP is the operator of the Wholesale Electricity Spot Market.
“I think given the economics and given that over time the project sites should be developed to meet the demand, then we will be trending to [a] higher share of solar in the energy mix,” Leviste added.