Global leading provider of photovoltaic (PV) modules Trina Solar is optimistic on continued flow of investments for solar projects in the Philippines – especially for installations in the commercial and industrial (C&I) segments.
In a briefing with reporters, Trina Solar Asia Pacific President Todd Li asserted “I do have very strong confidence on the Philippine solar business, by looking at the installation volume today, we are definitely at the beginning stage,” with him emphasizing that “in the future, definitely the C&I will thrive with bigger market share.”
The company is targeting solar PV installations of 1,500 megawatts per year for the next 10 to 20 years, and Li noted the Philippine renewable energy (RE) market will definitely corner a share in the pie.
“For the next five years, it would be a great opportunity for the large-scale utility projects development; and in the history of global PV market, it has happened to many countries,” the Trina Solar executive stressed.
In recent years, Trina Solar had been a PV module supplier to major solar projects in the country – including the Calatagan solar farm installation in Batangas; and the Tarlac-2 solar power project.
Li conveyed that in the continuing developments of solar projects in the Philippines, the company is eyeing to be partners again with the project sponsors it has worked with in recent years -- including with Solar Philippines.
In the unremitting technology improvements seen in solar PV modules, he emphasized that the company has been offering solutions that will fit the need of each market - primarily the requirement for these technologies to withstand extreme weather swings in various countries – such as the strong typhoons in the Philippines.
“Technology improvement for the solar modules wouldn’t stop at all. We can see that in the last 12 years, the technology rapidly improved. In the next 10 years, the technology will also continuously develop,” Li said.
He further indicated that what solar farm project-developers could also expect would be increased efficiency in the solar PVs that will be deployed in the future, hence, that will optimize the volume of electricity that can be generated.
In terms of cost, Li similarly opined that the capital spend for solar projects is anticipated to continually track downtrend in the years to come – although, there could be interim volatility as many markets accelerate on their rollout of solar projects.
“Cost-wise for the solar modules, we can see in the long run - if we review the previous 12 years; the modules have been over $3 per watt; and look at the price today, it dramatically reduced over the last 10 years,” he specified.
Nevertheless, he qualified that “maybe due to the supply issue, due to raw material issues -- there might be some fluctuations for the time being. But in the long-run, the cost of solar - not only the modules but I’m talking about the solar system, is going to continuously decrease and it can really take over the traditional energy source.”