Renewables can help lower power costs

The Philippines ranks among the countries with the most expensive electricity rates in Asia—and with the fast depletion of fossil fuel—the vicious trend of spiraling energy cost is deemed to continue.

On the opposite side of the fence, technological advances and the explosive growth of its usage in other countries have resulted in plummeting costs of renewable energy, shattering long-held assumptions that it is expensive. Renewable energy resources include geothermal, solar, wind, ocean, hydro and biomass power.