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In 2013, renewable energy provided 26.44% of the total electricity in the Philippines and 19,903 gigawatt-hours (GWh) of electrical energy out of a total demand of 75,266 gigawatt-hours. [1] The Philippines is a net importer of fossil fuels. For the sake of energy security, there is momentum to develop renewable energy sources.
The economic gains of renewable energy usage in the Philippines have not benefited the rural poor either, who are paying much more for electricity than urban users. In response, the national government enacted the Renewable Energy Act in 2008 to prioritize the use of renewable energy and to provide investment incentives for the private sector. [28]
The International Renewable Energy Agency's (IRENA) 2023 report on renewable energy finance highlights steady investment growth since 2018: USD 348 billion in 2020 (a 5.6% increase from 2019), USD 430 billion in 2021 (24% up from 2020), and USD 499 billion in 2022 (16% higher).
The Philippines being situated on the fringes of the Asia-Pacific monsoon belt, exhibits a promising potential for wind energy with 76.6 GW. [7] Wind power plants are the third most operated renewable energy source in the country. Solar Energy. In 2015, three solar farms were constructed in the Philippines.
Burgos Wind Farm.It is currently the largest wind farm in the Philippines, providing 150MW of power to residents of Burgos, Ilocos Norte. Wind power in the Philippines accounts for a total of 443MW as of 2020 according to the Department of Energy, covering about 1.6% of the country's total installed capacity for both renewable and non-renewable energy sources. [1]
Geothermal power in the Philippines is the country's second largest source of renewable energy, and the fifth largest source of energy overall. Among sources of renewable energy, it is second only to hydroelectric power, although both sources are surpassed by the amount of energy drawn from coal, oil, and natural gas in that order. [1] The ...
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The Philippines also generates a significant amount of electrical energy from oil, albeit to a lesser degree than compared to coal and natural gas. In 2013, the Philippines sourced 5.97% of its energy from oil-based sources. [7] As of March 2016, there were a total of 212 gas and diesel-powered facilities in the Philippines.