THE Philippines has been ranked the second most attractive emerging market for renewable energy by a Bloomberg research unit, gaining two places in this year's Climatescope report from fourth place in 2023.Its score of 2.65 out 5 was better than the Asia-Pacific average of 1.94 and was also second in the region, Bloomberg New Energy Finance said.The result, Energy Secretary Raphael Lotilla said on Monday, highlighted the country's attractiveness as a green energy investment destination.
'Between 2018 and 2013, the highest investment in clean energy was in 2023 at $1.981.08 million, while the lowest was in 2018 with $130.24 million,' it added.The average electricity price, meanwhile, rose to $187.60 per megawatt-hour in 2023 from $163.86/MWh a year earlier, with the average over 2017 to 2023 having fluctuated between $122.29-187.60/MWh.
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