Click Here for 150+ Global Oil Prices 
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
Click Here for 150+ Global Oil Prices
ADNOC, Eni Acquire Stakes In Gas Blocks Linked To Argentina’s LNG Project
Find us on:
The biggest story is where…
In August 2024, China sparked…
Charles Kennedy
Charles is a writer for Oilprice.com
More Info
Philippines to the highest in the world since the Iran war began, according to customs data cited by Reuters.
Amid soaring electricity prices and a supply crunch in fossil fuels, many Filipinos have opted to install rooftop solar panels over the past three months.
The spending on solar panels in the Southeast Asian country, which has been one of the worst-hit Asian economies in the energy supply crisis triggered by the Middle East conflict, topped $407 million between March 1 and May 31, per China customs data compiled by Reuters.
The Netherlands was the biggest spender with $1.1 billion on solar panels but it is a major transshipment hub for solar equipment imports and re-exports, so it’s not really part of the analysis of which country has spent the most.
After the Philippines comes Pakistan, another Asian economy severely hit by the halt of LNG supply from the Middle East. Pakistan has managed to negotiate with Iran some LNG cargoes form Qatar to exit the Persian Gulf in recent weeks. But the energy crisis in Pakistan has also prompted a rush to solar power installations.
Pakistan’s solar boom was already evident before the Middle East crisis.
Distributed solar drove a 21% increase in Pakistan’s national electricity demand in two years, clean energy think tank Ember said in a report last week.
A total of 27 gigawatts (GW) of distributed solar was deployed in just two years, the same as all the operating coal, gas, and oil plants built in Pakistan ever, Ember said.
In the Philippines, rooftop solar has nearly doubled over the past 12 months, according to a separate Ember analysis from the end of May.
The Philippines is China’s second-largest solar panel export market in 2026, only behind the transshipment hub the Netherlands, suggesting significant rooftop pick-up in the Southeast Asian country. China exported over 3,000 MW of solar panels to the Philippines in March and April alone, according to Ember’s data.
Still, the solar boom in the Philippines faces challenges, including high upfront costs for Filipino households and supply chain issues.
By Charles Kennedy for Oilprice.com
More Top Reads From Oilprice.com
Join the discussion | Back to homepage
Previous Post
Pakistan Plans to Boost LPG Imports and Mulls Cheaper Oil Supply from Iran
Next Post
Gulf Producers Race to Load Oil and LNG as Hormuz Stays Open
Charles is a writer for Oilprice.com
More Info
Oil Prices Plunge as U.S. and Iran Reach Deal to Reopen Strait of Hormuz
Australia’s 344-Million-Barrel Oilfield Could Finally Get the Green Light
Oil Prices Rebound as U.S.-Iran Peace Talks Are Postponed
Kuwait Says Oil Output Won’t Recover for 10-12 Weeks After Hormuz Reopens
Saudi Arabia Slashes Oil Prices Again as Asian Demand Weakens
ADVERTISEMENT
Guyana’s Oil Boom Gets a Major Boost From $100 Crude
How Fake News Became the Most Dangerous Force in Energy Markets
How Long Can Demand Destruction Keep a Lid on Oil Prices?
Russia’s China Energy Lifeline Is Becoming a Noose
© OilPrice.com
The materials provided on this Web site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Nothing contained on the Web site shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction.
Merchant of Record: A Media Solutions trading as Oilprice.com
