July 7, 2020 Read More →

Filipino power spike might lead to increased residential solar

Eco-Business:

Unlike many Filipino consumers who have been forking out more for their electricity bills in recent months, entrepreneur and Manila resident Mike de Guzman has had to pay nothing.

A 20 kilowatt-peak (kWp) solar installation in his home generates more electricity than his household requires and allows him to sell excess power to the national grid.

“Even if we had to use the air conditioning more often during lockdown since we were working from home, we have had a zero or even negative residential electric bill. This is because we consistently produce more energy than we consume and amass net metering credits,” de Guzman told Eco-Business.

His experience stands in stark contrast to the shock of many Filipinos when they received their power bills in May, three months into the country’s Covid-19 lockdown—consumers had to pay up to four times more than the previous month. 

Apart from an increase in prosumers, Dimalanta also predicted that more consumers will exercise the right to choose their own energy supplier, and this would likely mean a bigger market share for renewable energy players.

The Philippines’ electricity cost, at US$0.20 per kilowatt-hour, is the second-highest in Asia. A shift to renewable energy could slash electricity rates by 30 per cent, according to a report in 2019 by the United States-based think tank, Institute for Energy Economics and Financial Analysis.

[Hannah Alcoseba Fernandez]

More: As power bills surge amid Covid-19, will prosumers be the Philippines’ next big energy trend?

Posted in: IEEFA In the News

Comments are closed.