The Philippines has topped Asia and ranked 5th in the world for the use of solar energy across various sectors and industries.
According to a study conducted in 2018, the country was hailed number one among developing countries in the continent in terms of the use of solar photovoltaic systems for electricity generation. As a tropical archipelago, experts agree that the Philippines has the potential to generate a lot of energy from natural resources. In recent years, local government units and private firms partner to capitalize on this potential. Numerous solar energy farms across the country have been established and founded to supply electricity and power to select areas and localities.
Cheap, Clean, Renewable
According to the International Energy Agency, solar power is turning into the cheapest source of new electricity generation capacity in many countries, especially in Asia. It is also endorsed by frontrunners of sustainability and green real estate for the benefits it offers environmentally and financially.
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The IEA also noted that they are looking forward to the next 25 years, when the world’s growing energy needs are met first by renewables and natural gas as fast-declining costs turn solar power into the cheapest source of new electricity generation.
Investment in Sustainability
The Department of Energy has been bullish in exploring and investing in renewable energy generation to help lower costs, meet the consumption demands, and lessen the country’s carbon footprint. Beyond costs, solar power generation also reduces emission of environment-harming greenhouse gases that contribute heavily to the climate crisis.
Moreover, the shift to renewable energy in real estate is constitutionally encouraged in the country. The Energy Efficiency and Conservation Act requires building owners to use renewable sources. Solar power is most plausible given that the Philippines remains to be the only country to experience 2,000 hours of sun per year.
With the massive movement to go green especially in real estate, the investment or additional cost incurred in the technology used to support solar energy can be outweighed or mitigated upfront by several benefits that it can provide in the long run.
Beyond the idea of conservation, highlighting the improved energy efficiency structure that will be unique to adopting developments and estates is an unparalleled advantage that will have far-reaching implications in overall energy consumption and demand globally.
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