A think tank believes that renewable energy (RE) outdoing coal as the Philippines’ top energy source could grapple with difficulties in financing, land acquisition, and power generation capacity.
In a report by the Business World, Minimal Government Thinkers President Bienvenido Oplas Jr. said recurring wind-solar is not enough to accommodate energy demands or be used as an alternative for coal generation, posing threats of large-scale daily blackouts.
The International Energy Agency (IEA) reckoned that RE would overtake coal by 2025, saying that RE would generate more than one-third of the world’s energy.
Furthermore, the share of renewables could reach almost 37% in 2026, up from 30% in 2023, with solar photovoltaic (PV) contributing the most to the increase.
Oplas further explained that the increase should be significant to be able to meet the energy demands without experiencing rotational blackouts.
Meanwhile, Renewable Energy Association of the Philippines (REAP) President Erel B. Narida said that the low turnout of the Green Energy Auction (GEA) should be examined, as the financial support for the transition has only a few support, and more often than not, foreign investments are vital for it.
Another think tank backed up these statements. InfraWatch PH public analyst Terry Ridon said that developing economies could face hurdles in committing to RE goals, unlike their counterparts with enormous industrial advancements.