Manila must tackle energy efficiency: ADB
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The Philippines, along with its neighbours in Asia, must improve energy efficiency, widen access to electricity, and prioritise renewable energy supplies in order to sustain its growth path, according to the Asian Development Bank (ADB).
Asian countries will remain heavily dependent on energy imports, especially oil, at least until 2035, the ADB said in its study, “Outlook 2013: Asia’s Energy Challenge”.
Much of the projected surge in oil imports will be driven by increasingly well-off Asians trading public transport for private cars, further whetting the region’s thirst for imported oil despite efforts to curb dependence on fossil fuels.
Energy consumption is also expected to grow much more quickly to fuel their economic growth. The ADB also cited country-specific factors in its study.
“In the Philippines, the contribution of [renewable energy] will shrink from 43 per cent in 2010 to 14 per cent 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, (17 per cent of the population), lacked access to electricity, which would only improve with improved energy efficiency and investment.
ADB said that by 2035, the Philippines, Thailand and Vietnam will have self-sufficiency rates similar to Japan – that means all will remain dependent on imported fuel.
