The Philippines is projected to have a peak energy demand of 25,000 megawatts (MW) by 2028, and the Department of Energy (DOE) has stated that an additional 8,000 MW of energy capacity is needed by the end of President Marcos’ term to meet this demand. Out of this total, 43% must come from renewable energy sources, while the remaining 57% can be sourced from other technologies, including natural gas.
Currently, the country’s peak demand stands at 17,000 MW. Energy Secretary Raphael Lotilla has emphasized the importance of utilizing a combination of renewable energy sources and battery storage to meet the target. President Marcos has also expressed the country’s goal of increasing the share of renewables in the energy mix from 22% to 35% by 2030 and 50% by 2040.
Despite the country’s heavy reliance on coal, Lotilla acknowledges the need to retire existing coal plants but states there is still a need for them at present. The DOE has already approved 126 clean energy service contracts, which have a combined potential capacity of 31,131.74 MW. In addition, the DOE’s Green Energy Auction Program has identified 3,580.76 MW of committed renewable energy capacities.
Lotilla believes that developments in technology will contribute to additional sources of power by 2028 and expects the continued growth in power demand to be met through new renewable energy sources. The DOE reports that eight generation facilities became operational from July 2022 to June 2023, increasing the country’s installed capacity by 930.8 MW. As of June 2023, the Philippines’ total installed power generation capacity was 28,297 MW.
In conclusion, the Philippines is actively working towards increasing its renewable energy capacity to meet the projected energy demand. The government’s targets for renewable energy integration and the DOE’s approval of clean energy service contracts and green energy auction programs are steps in the right direction.
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