SOLAR Philippines said on Tuesday Solar-plus-Storage technology is now cheaper than power sourced from coal.
“Without even factoring the environmental externalities, based purely on direct cost, Solar-plus-Storage is already cheaper than coal, and cheaper than diesel and gas,” Solar Philippines President Leandro Leviste said. “We’ll prove that in the market this year, and show you don’t need to choose between economic growth and environmental sustainability.”
Leviste said he believes no new coal plants should be built in the country again.
“We have great respect for companies building coal plants because of the notion they still cost the least. We are now trying to raise awareness Solar-plus-Storage is already cheaper, before the industry invests into what will become stranded assets before they are even built. It’s good for the economy, the environment, and companies themselves, and we hope this will merit a closer look,” Leviste said.
Solar Philippines has begun solar-panel production at its factory in the First Philippine Industrial Park in Batangas. It envisions the country as an exporter of solar panels within this year.
“The process for development, construction and equipment supply in the Philippines has until now been very inefficient. We are simply bringing our costs closer to other markets, where solar now costs an average of P2 to P3 per kilowatt-hour [kWh],” Leviste said.
Last week the company broke ground for its 150-megawatt (MW) project in Concepcion, Tarlac.
Leviste said this project is “the first in the Philippines at a lower cost than coal, the first with battery storage for 24-hour power, and the first to demonstrate that renewable energy as midmerit and even baseload is not something that will take 10 years or 20 years, but is already here.”
The project will be able to power the entire province of Tarlac, through 450,000 solar panels in over 150 hectares, with room to expand as demand increases.
The company plans to start construction on a number of projects in 2017, including 50 MW in Batangas and Cavite, which will supply the Manila Electric Co. under a recently signed agreement.
Solar Philippines has completed the Calatagan Solar Farm and projects with SM and Robinsons malls.
Image credits: SM Cares