Philippines
Coal and natural gas remain the predominant indigenous fossil fuel resources in the Philippines, accounting for two-third of the total energy supply. However, the share of renewable energy continues to rise, owing to a long-standing use of geothermal and hydropower resources for electricity generation and the use of biomass by the industrial and residential sector.
Solar energy in the country is one of the cheapest sources of renewable energy in the market. However, battery storage technology and the development of micro-grids are the two areas of solar energy that have yet to be fully developed in the Philippines where over 7,600 islands are located. Swedish companies with solutions to these issues will find the Philippines an attractive country to expand into
The Philippines is also regarded as a potential destination for investments towards waste-to-energy, mostly due to the favourable foreign investment incentives present for waste-to-energy projects such as 100 percent foreign ownership, unlike other renewable energy source.
The Philippines has one of the most expensive electricity prices in Southeast Asia, one reason is that the country has the most expensive electricity tariff rates in the region. The energy sector is not subsidised by the government and applies cost-reflective electricity rates. Compared to its neighbouring countries in Southeast Asia, the Philippines’ energy sector is largely privatised.
The transport sector accounts for 35 percent of the total energy consumption followed by the residential sector (27 percent) and industrial sector (23 percent).
The Philippines Energy Efficiency Roadmap 2023-20250 (NEECP)