Philippines needs an additional 152TWh of renewable generation by 2050 compared with the current policy projection based on the draft Philippine Energy Plan 2023’s clean energy scenarios, as per the non-government report.
The Center for Energy, Ecology, and Development (CEED) said the country has an abundance of renewable energy potential which is around 1,200 GW. “The analysis focused on solar rooftop, open-field solar and onshore, offshore wind energy – excluding areas of high biodiversity and protected areas,” said the statement.
It also projected that coal-fired power could be phased out of the power sector by 2035, and gas almost entirely phased out by 2040. The report also elaborated on the market’s power sector, which is seen to attain a 1.5˚C compatible emissions pathway without resorting to fake solutions like retrofitting the coal fleet for green hydrogen, carbon capture and storage, or building new nuclear power capacity.
“Shifting towards a 1.5oC pathway would reduce electricity costs in the Philippines; planning for infrastructure development with international financing is crucial,” said the statement.
It is believed that phasing out coal and replacing it with renewables in the Philippines will also create more jobs than business, yearly.