According to a report commissioned by sustainability think tank Center for Energy, Ecology and Development (CEED), the Philippines projected to be capable of achieving 100% in renewable energy by 2050. The Philippines’ current renewable energy goals, outlined under the National Energy Efficiency and Conservation Plan and Roadmap 2023-2050, target 50% share of renewable energy by 2050 in its “reference” scenario and 50% by 2040 in a more ambitious “clean energy” scenario. With international funding and supportive policies, the report finds the Philippines could transition its power sector to near-100% renewable energy without compromising on the costs of electricity, reducing its reliance on expensive imports of both coal and gas, while creating up to a million jobs by 2050. Coal-fired power could be phased out of the power sector by 2035, and gas almost entirely phased out by 2040, given the Philippines' abundant renewable energy potential estimated at around 1,200 gigawatts.
These ambitions and the realization of the optimistic new CEED assessments will be supported by a US$0.3 million investment in renewable energy President Marcos secured during the 30th Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting on November 17. The renewable energy commitment adds to the US$672.3 million in total investment pledges across various sectors in the Philippines, including telecommunications, semiconductors, electronics, pharmaceuticals, healthcare, and artificial intelligence.
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