Invest Daily Pro
  • Economy
  • Investing
No Result
View All Result
  • Economy
  • Investing
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Top News

Weak consumer confidence slows solar adoption — study

by
December 15, 2024
in Top News
0
Weak consumer confidence slows solar adoption — study
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
With some of the most expensive power rates in Southeast Asia, the Philippines stands to benefit immensely from rooftop solar power installations in urban areas like Metro Manila. However, adoption is hampered by a lack of public awareness and the need for more government support. — ROSALINA PALANCA-TAN

MANY households are interested in adopting rooftop solar power systems, but concerns about provider trustworthiness and high costs hinder their adoption, according to a study from Ateneo de Manila University.

Homeowners recognize that solar energy contributes to environmental protection by reducing greenhouse gas emissions and air pollution, helping combat the effects of climate change, according to a study by Department of Economics Professor Rosalina Palanca-Tan, published in the journal Challenges in Sustainability.

In a survey of 143 respondents, 82% expressed some interest in adopting solar panels, but only 20% had firm intentions to do so.

Despite the economic and environmental benefits, respondents were reluctant to invest due to the upfront cost needed for installation.

According to the study, a home rooftop solar power setup costs approximately $1,700 (₱100,000), equivalent to more than half a year’s salary for minimum wage workers.

“Many households are unsure if this initial expense is justified by long-term financial and environmental returns,” it said.

The survey found that, aside from costs, trustworthiness of providers, clarity on warranties, and perceived installation quality were equally important considerations.

The study found that while most respondents understood renewable energy’s role in combating climate change, few knew the specific benefits of rooftop solar power or how to find reliable installation services.

“Thus, the study urges stronger government intervention and public education campaigns. In particular, the study suggests improving net metering rates, expanding access to financing options, and accrediting trustworthy RTSP (rooftop solar power) providers to build consumer confidence,” the study said. — Sheldeen Joy Talavera

ShareTweetPin

Related Posts

Have a taste of the perfect day in paradise with SULÀ Spirits
Top News

Have a taste of the perfect day in paradise with SULÀ Spirits

January 8, 2025
First months of 2025 likely rainy amid La Niña conditions, says PAGASA
Top News

First months of 2025 likely rainy amid La Niña conditions, says PAGASA

January 8, 2025
December inflation rises to 2.9%
Top News

December inflation rises to 2.9%

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
Outstanding debt hits fresh high of P16.09T
Top News

Outstanding debt hits fresh high of P16.09T

January 7, 2025
PHL end-December dollar reserves drop to $106.8B
Top News

PHL end-December dollar reserves drop to $106.8B

January 7, 2025
Next Post
Minotti reopens after renovation

Minotti reopens after renovation

Recommended

Getting To Know You: Riaz Moola, Founder and CEO, HyperionDev and CoGrammar

Getting To Know You: Riaz Moola, Founder and CEO, HyperionDev and CoGrammar

August 6, 2024
Ubisoft Philippines awarded Wellness Company of the Year Grand Winner & Diversity Company of the Year Circle of Excellence Awardee at the Asia CEO Awards 2024

Ubisoft Philippines awarded Wellness Company of the Year Grand Winner & Diversity Company of the Year Circle of Excellence Awardee at the Asia CEO Awards 2024

October 17, 2024
An Emperor’s Table laden with ingredients from a place of exile

An Emperor’s Table laden with ingredients from a place of exile

August 28, 2024
Luzon still experiencing unfavorable weather as Enteng exits PAR

Luzon still experiencing unfavorable weather as Enteng exits PAR

September 3, 2024
The World of NBA Predictions

The World of NBA Predictions

October 14, 2024
Harnessing the power of human capital: Building a prosperous future for the PHL

Harnessing the power of human capital: Building a prosperous future for the PHL

October 28, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively InvestDailyPro ) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About us
    • Contact us
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Terms & Conditions
    • Thank you

    Copyright © 2024 investdailypro.com | All Rights Reserved