Philippines leads the world in rush to solar as power prices soar

Philippines leads the world in rush to solar as power prices soar

People in the Philippines are increasingly installing rooftop solar panels to cut soaring electricity bills, making the country the world's biggest spender of solar panels since the conflict in Iran began. Power distributor Meralco has raised electricity rates by about 10% since the Middle East conflict started in late February. The Philippines has the highest residential electricity prices in Southeast Asia and provides few power subsidies, making rooftop solar more attractive despite high upfront costs.

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