Marcos Reaffirms PH Goal of 50% Renewable Power by 2040

MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday reaffirmed the government’s goal of having the Philippines source half of its power generation from renewables by 2040. He made the remarks as he opened the Philippines’ first interactive Energy Museum at the Department of Energy (DOE) Energy Center in Taguig City. Marcos wants electricity The President hailed the opening of the Energy Museum as a significant step in showcasing the country’s progress and commitment to sustainability in the energy sector. The museum aims to educate the public, especially the youth, about the importance of energy, renewable energy technologies, and the need for energy efficiency. The Philippines has been pushing for a transition to renewable energy to reduce its reliance on fossil fuels and enhance its response to climate change. Achieving the target will require significant investments in renewable energy sources such as solar, wind, geothermal, and hydropower, along with the development of related infrastructure. Currently, the share of renewables in the Philippines' energy mix remains low, necessitating substantial expansion over the next 16 years to meet the goal. This objective has the potential to bring multiple benefits, including enhanced energy security for the Philippines, stabilization of energy prices, and contribution to international climate change objectives. However, the adoption of renewables also presents challenges that need to be overcome, such as strengthening the power grid, land use issues, and the burden of initial investment costs.