More than two million Filipino households still don’t have access to electricity, leaving some students to rely on kerosene lamps when doing their homework after dark. This impacts their health and academic performance.At the flick of a light switch and upon the connection of a plug, electricity is expected to be there.
Without the crucial input of stable and reliable electricity to business, government, school, and household activities, the quality of life of the residents and local competitiveness suffer. The government has set economic growth assumptions of 6-7% in 2024, 6.5-7.5% in 2025, and 6.5-8% from 2026 to 2028. Analysts have opined that the economy would have to hit those assumptions for the Philippines to upgrade and become an upper middle-income country within the same span.As articulated by Filipinos themselves, they want a “Matatag, Maginhawa at Panatag na Buhay” , representing their collective long-term vision by the year 2040.
The electric power industry is dealing with a moving target. From 2022 to 2050, the Department of Energy projects an average annual growth rate of 5.19% in peak electricity demand and 5.49% in electricity sales nationwide; 2050 figures being more than quadruple the 2022 figures.In any case, all demand must be met as supply chains, offices, schools, hospitals, infrastructures, and households all require sufficient access to electricity to effectively perform their functions.
With scaling solar, there is also a concern on the potential aggregate land footprint of industrial solar facilities, which tends to compete for space with agriculture and food production. Without new greenfield coal projects and the depletion of the country’s sole indigenous gas field, LNG can offer high capacity, less carbon intensity, and flexibility in power generation that can complement the intermittencies of solar and wind power.
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Source: MlaStandard - 🏆 20. / 55 Read more »