Why is energy storage important in the Philippines?

As the Philippines is committed to reaching 35% of renewables in its generation mix by 2030 and 50% by 2040, energy storage systems will be needed to address the intermittency of renewables like solar and wind.

How will LNG imports affect electricity costs in the Philippines?

Costly LNG imports and expensive new facilities could raise generation costs by 11%-24%, pushing up electricity bills for households and industrial consumers. The cost of renewables, such as solar and onshore wind, is falling below that of gas in the Philippines.

Does the Philippines need energy diversification?

Recent global trends have made the Philippines more aware of the need for energy diversification, including nuclear energy/small modular reactors (SMRs) and energy storage. In the past, decisions centered around the price, but the need to have multiple sources to ensure business continuity now seems to be recognized.

How can the Philippines increase its energy supply?

The country is also considering increasing domestic gas production as well as liquefied natural gas imports to meet its growing energy needs. Scaling up renewables is the most economic pathway for the Philippines to increase energy supply, according to BloombergNEF’s analysis.

How much battery capacity can a solar project have in the Philippines?

Battery capacity is at least 20% of the solar project capacity. Ground-mounted solar includes 42 megawatts of rooftop solar. In addition, the Philippines can accelerate the deployment of small-scale standalone batteries and rooftop solar-with-storage by residences and businesses. This can be done initially through subsidies and rebates.

Why is the Philippines reliant on imported coal for power generation?

The Philippines has long been reliant on imported coal for power generation and has brought in gas cargoes since 2023. In contrast to coal, oil and gas power plants, renewables like solar, hydro and wind do not require consumable fuels to operate.