PH seen saving P1.7B in fuel imports with 2030 solar push — study

The Philippines could save around P1.7 billion by reducing its coal and gas imports if it succeeds in building at least 9.5 gigawatts of solar power by 2030, according to an analysis by international research group Zero Carbon Analytics (ZCA).

ZCA said the shift to clean energy—especially solar power—could help the Philippines rely less on imported fuel and protect consumers from sudden global price changes, while also lowering electricity costs by using more locally produced energy instead of imported coal and gas.

“In the Philippines, where generation costs account for around 60% of electricity bills, these price shocks are passed directly on to consumers. Scaling up solar is one of the fastest and most effective ways to reduce this exposure,” ZCA senior Asia regional manager Yu Sun Chin said in a statement.

“Staying on track to meet the 2030 solar target—and even surpassing it—will be critical to protect Filipinos from future price shocks,” she added.

With the projected savings, ZCA said the country could more than cover the cost of the proposed Cancer Assistance Fund for vulnerable citizens in the 2026 budget.

The Philippines, a net fuel importer, has been affected by tensions in the Middle East, prompting President Ferdinand “Bongbong” Marcos Jr. to declare a state of national energy emergency in March.

The government is seeking to accelerate renewable energy deployment amid the situation, covering about 1.5 GW of solar, wind, and storage projects, along with the activation of 250 megawatts of solar capacity.

“Embedding these short-term measures into long-term policy will help ensure sustained energy affordability, resilience, and independence,” ZCA said.—MCG, GMA News