Philippines energy storage exports

Does the Philippines need energy diversification?

Recent global trends have made the Philippines more aware of the need for energy diversification, including nuclear energy/small modular reactors (SMRs) and energy storage. In the past, decisions centered around the price, but the need to have multiple sources to ensure business continuity now seems to be recognized.

Is the Philippines a net energy importer?

The Philippines is a net energy importer despite low consumption levels relative to its Southeast Asian neighbors. Currently, it is only self-suficient for 52.6% of its energy consumption. In here, we have highlighted the gross value added in each segment of the energy sector.

What fuel does the Philippines import?

Diesel has been the product whose highest import volume, followed by IFO/Fuel Oil, Jet Fuel and Kerosene. The Philippines imports 75% of its coal supply – most of it from Indonesia and Australia – exposing the country’s electricity system to political unrest, price volatility and the risk of unfavorable foreign exchange rates.

What is the energy potential of the Philippines?

The Philippines is estimated to have an untapped resource potential of 2,600 MW in geothermal, 70,000 MW for wind energy and over 13,000 MW for hydropower. Development programs and reforms by the government support the growth of the energy sector, especially in the renewable segment.