Philippine power capacity to double by 2030

MANILA, Philippines — The country’s installed power capacity is expected to double to 58.4 megawatts by 2030 amid increasing industrial and residential demand.

GlobalData, a leading data and analytics company in the UK, said power consumption in the Philippines is expected to grow at an annual rate of 5.8 percent to reach 145.1 terawatt per hour over the next 10 years.

“By 2030, the power demand in the country is going to increase significantly. This demand is expected to be driven by multiple factors, including the rapid industrial growth and increased residential power demand,” GlobalData power analyst Aditya Sharma said.

“With the government implementing plans like the total electrification program for total electrification by 2022, the electrification rate in the country is going to increase,” he said.

GlobalData noted that the Philippines needs to rapidly develop its total power capacity to sustain growing power demand.

With no plans for nuclear power development and limited potential of hydropower, most of the installed capacity is expected to be sourced from thermal power and renewable power.

For renewable power, capacity is seen surging more than 300 percent to 22.2 GW from last year’s 5.3 GW.

Similarly, thermal power capacity will likely increase by 67 percent to 30.7 GW by 2030, largely driven by coal fired thermal power plants.

The highest increase is seen in solar power by more than 600 percent to reach 15.29 GW from just 2.16 GW last year.

“It will also help the country to keep checks on its growing carbon emission. Even under its new Philippine Energy Plan, the government plans to add 11,070 megawatts of new solar capacity,” Sharma said.