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Swapping diesel for renewables has potential to save P13.5 billion

December 04, 2020

The Philippine Star:

The Philippines is seen to save P13.5 billion annually if off-grid areas shift their power source from diesel to renewables, according to a report made by the Institute for Energy Economics and Financial Analysis (IEEFA).

The report said an additional P1.4 billion to P1.7 billion could be saved by electric cooperatives (ECs) over the next decade with the shift to clean energy.

IEEFA energy finance analyst Sara Jane Ahmed said diesel is no longer the only way to power up the off-grid market as “renewables can effectively supply off-grid markets, realizing significant savings for electric cooperatives burdened by a lack of financial reserves.”

Renewable solutions could be tailored to local grid characteristics, the report said.

[Danessa Rivera]

More: Philippines to save P13.5 billion yearly from shift to renewables

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