Philippines should prioritize renewable energy

Needs to do this to sustain economic growth.

The Asian Development Bank said the Philippines and its Asian neighbors must widen access to electricity, and prioritize renewable energy supplies to sustain growth.

The Philippines will remain heavily dependent on energy imports, especially oil, at least until 2035, ADB said in its study, “Outlook 2013: Asia’s Energy Challenge.”

Energy consumption is also expected to grow much more quickly to fuel economic growth.

In the Philippines, the contribution of (renewable energy will drop from 43% in 2010 to 14% in 2035, by which time proven indigenous gas and coal reserves will be depleted, ADB said.

It also noted how in 2010, 16 million Filipinos, or about 17% of the country’s population, lacked access to electricity, and access would only improve with improved energy efficiency and more energy investments.

In the Philippines, about half of fuel inputs for power generation come from renewable energy, where capacity is at present concentrated on hydropower.