The National Economic and Development Authority (NEDA) opines that the Philippines will require time and supportive policies to transition to a fully or predominantly renewable energy (RE) system.
In a report by Philippine Star, NEDA Secretary Arsenio Balisacan shared that the prices of (RE) sources, particularly solar, are expected to decrease, with storage batteries seen playing a crucial role.
Balisacan added that the country cannot be forced to transition quickly as the economy cannot afford it.
NEDA reiterated that the country would need realistic approaches and policies that support the shift to RE and at the same time consider the country’s economic conditions.
This came after energy think tank Ember released data showing that the Philippines has become the most coal-dependent country in Southeast Asia, surpassing Indonesia and China.
According to the data, coal’s share in the Philippines’ electricity generation rose to 61.9% last year from 59.1% in 2022.
This increase occurred despite the country’s goal to raise the share of RE in its power generation mix to 35 percent by 2030.
NEDA stressed that the Philippines lacks the technology and funds to quickly transition to RE, unlike developed countries, and that while the country has committed itself to the energy transition, it would need access to technology and finance.
