PHL looks at solar power to beat high electricity rates – Aquino

In light of the rising cost of electricity, President Benigno Aquino III said the government is considering the use of solar energy as an alternative to other sources of power.

 

In an interview Friday, Aquino said the Department of Energy is developing a business model between suppliers of solar panels and various private institutions and educational institutes.

 

Under the previous model, the supplier would sell the products in exchange for a one-time lump sump payment.  

 

In the new business model, the President said what schools or institutions will save from electricity bills will be used to pay for the installation of the solar panels over a 15-year period.

 

"It’s a multi-pronged strategy. Umpisa ka muna sa generating... Second, siguro baka i-spread out mo kung paano nakukuha iyong electricity and solar is one of them," he said.

 

"Ano ang value nu'n? Babawas iyong demand on the generating side," Aquino added.

 

Apart from this, the government is also reviewing pertinent laws on how to encourage competition in the market to bring about "more reasonable prices," he said. – Kimberly Tan/VS, GMA News