Philippines solar power surges amidst Iran war costs
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Filipinos are increasingly investing in rooftop solar panels as the war between the United States, Israel, and Iran drives up electricity prices in the country.
Even before the conflict began in February, the Philippines had the highest electricity costs in Southeast Asia, comparable only to Singapore where incomes are much higher. The rush for solar power led to $407 million in panel imports from March to May, making the Philippines the largest single overseas market for those panels.
Solarmaxx, a solar power supplier, reports a 30-day wait for installations due to high demand. They went from 40 projects in March to 25-30 systems per month since then. This shift is also fueled by frustration with electric companies, which customers say charge them for system losses including illegal connections. While the government launched a loan program for solar installations in March, it currently only serves public sector workers.
Larger-scale solutions are also in development, including a planned 3,500-hectare solar farm north of Manila, expected to power 2.4 million households, but consumers worry these projects will take too long to deliver relief from rising bills.
