The sun shines brighter in the Philippines.
With a 4.6% annual growth in power demand and 16 million people living without reliable access to electricity in the Philippines, there is an apparent need to power this nation.
As costs of solar continues to fall by 1.5% per year, and oil prices projected to rise to $100/barrel in 2020, it becomes ever more apparent that solar is the ideal fuel source for the Philippines, a country with the region’s highest energy prices, but one also bathed in year round sunshine and spread across 7107 islands, unsuited to centralised power production.
Recognising this, multiple solar players are now pouring into the country in order to stake their claim. Current cumulative FIT solar installations as of June 2016 is at 542MW and this is projected to rise to over 3GW by 2022 and 5GW by 2030. Residential, C&I and off-grid solar uptake continues to rise rapidly as well.
Download the infographic and find out:
- Solar opportunities in the Philippines
- Current & targeted FIT solar installations
- Summary of solar projects awarded (as of June 2016)
- Map of PV solar projects installed in the Philippines
The Solar Show Philippines 2017 is thus a timely and valuable resource for anyone with an interest in exploiting the enormous opportunities in this dynamic market. Get in touch with us now to explore how you can tap onto these opportunities