Manila Nurse Walter Serrano Installed Rooftop Solar And Battery Storage For Roughly $9,700 Using A New Government Low-Interest Loan Program, As Indonesia Targets 100 Gigawatts Of Rooftop Solar By 2034 And China, The World’s Largest Solar Technology Provider, Positions Itself As The Primary Beneficiary Of Asia’s Accelerating Shift Away From Fossil Fuels
According to Bloomberg and AP via ABC News, soaring fuel costs driven by the Iran war are pushing consumers across Asia toward rooftop solar power, a likely windfall for China as the world’s largest solar technology exporter.
A survey of 20 Philippine solar companies by the nonprofit New Energy Nexus found a 70% increase in weekly installations and a six-fold jump in customer inquiries since the war began February 28, closing the Strait of Hormuz and disrupting roughly a fifth of global oil and gas transit.
Manila nurse Walter Serrano installed rooftop solar and battery storage in April for around $9,700, leveraging a new Philippine government loan program offering up to 500,000 pesos at low interest for residential clean energy. The Philippines imports 98% of its oil from the Middle East and declared a national energy emergency in March.
Indonesia has set a target of 100 gigawatts of rooftop solar by 2034, up from 1.3 gigawatts currently, while the UK now requires solar panels and heat pumps in all new homes.
To check out our previous coverage on the Iran war’s global economic fallout, read our articles here.
