Philippines becomes world’s top solar spender amid Middle East energy crisis

Philippines becomes world’s top solar spender amid Middle East energy crisis The rooftop solar rush has resulted in US$407 million in panel imports from March to May, a 145 per cent increase from a year earlier Top power distributor Meralco has raised prices by 10 per cent since the Middle East conflict began in late February. Now, a median household spends around 12 per cent of monthly income on electricity, assuming it consumes 200 kilowatt-hours – around the monthly average for three people. The Philippines is one of the few countries in Southeast Asia with barely any power subsidies, and its residential power prices are the highest in the region. Only Singapore comes close, but its citizens’ average purchasing power is nearly 13 times higher. Adrian Sabatera, a 39-year-old software engineer, thought about getting solar for years but found it too costly. That changed as costs came down and electricity prices kept rising. “I wouldn’t be shocked if a third of the middle-class population eventually finds their way to this set-up,” Sabatera said after recently pulling the trigger on a 570,000 peso (US$9,300) installation at the Manila house he shares with three others. The rooftop solar rush has resulted in US$407 million in panel imports in the three months through May, a 145 per cent increase from a year earlier, according to trade data from China, which accounts for most global supply. Even when Chinese panel shipments fell 13 per cent in May after a tax rebate removal, exports to the Philippines rose by almost a third.