Philippines on a Mission to Double Solar Power and Quadruple Wind Power in Energy Shares by 2030
- July 25, 2024
A government presentation at the Renewable Energy Markets Asia conference announced that the Philippines is set on boosting the solar power output share to 5.6% by 2030 from 2.4% in 2024 and the wind power output share to 11.7% from 3.1%. This achievement would place the country’s energy portfolio as among the greenest in Southeast Asia.
A higher share of wind and solar power is expected to offset the projected decline of other renewable energy sources such as hydropower and geothermal energy, maintaining the country’s ability to reach the goal of a 35% green energy share by 2030/
In the presentation, assistant secretary at the Philippines Department of Energy Mylene Capongpol stated that the hydroelectricity share is projected to fall from 10% to 9.1%, and geothermal energy is expected to take a 7.7 share of the country’s energy output by 2030, falling from 8.9% in 2024.
She adds that the Philippines may achieve their targets over a 6-year period by doubling solar capacity and tripling wind capacity.
The country’s current focus is on a rapid build out of offshore wind farms despite high upfront costs brought about by inflation and the postponing foreign investment in development projects since 2023.
The nation aims to add 1,200 megawatts of nuclear capacity by 2032 as a part of its plan to upgrade transmission infrastructure to pave the way to smooth addition of renewable energy sources.
The energy department will also create a long-term programme The Department of Energy pledges a long-term program to to facilitate the voluntary early decommissioning or repurposing of over 3.8 gigawatts of coal-fired power plants which are more than 20 years old, Capongcol stated.
The Philippines aims to reduce the coal shares in their power generation to 47.6% by 2030 from its 60% in 2024.
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