SOLAR panel provider Solar Philippines said on Thursday that Manila Electric Co. (Meralco) consumers may enjoy as much as a 30 percent reduction in power rates soon if its proposal to the distribution utility is approved. Solar Philippines said it submitted to Meralco a proposal seeking to replace planned coal plants with solar battery farms under the company’s 5,000-MW (megawatt) Solar Plan. The P3.50 per kWh offer was submitted by Citicore Power Inc. to Meralco. Although the proposed rate is yet to be divulged next week, Solar Philippines President Leandro Leviste said it should be the lowest actual generation cost in the Philippine history. Solar Philippines earlier announced it will begin exporting solar panels through original equipment manufacturer (OEM) contracts with suppliers from China, for export to the United States and Europe.

Source: Manila Times August 17, 2017 15:45 UTC