MANILA - Solar power does not need to be subsidized because the technology behind it is mature enough to compete with other power generation technologies, the top official of a solar power company told ANC.
Lean Leviste, the founder and CEO of Solar Philippines told ANC, going solar could also lower power costs for consumers.
He said his company's P2.99 per kilowatt-hour bid to provide power to Meralco, which was lower than power from fossil fuels, was grounded in recent advances in solar panel technology.
Leviste said that their technology as well as manufacturing process was so efficient that they are confident of competing even with Chinese solar companies.
"The assembly cost is actually lower in the Philippines than in China to the extent that we are a subcontractor for certain Chinese companies exporting to the U.S. and Europe," Leviste told ANC's Future Perfect Tech Shorts.
Solar is now efficient, that it no longer needs to be subsidized to be competitive, he said.
"The feed-in tariff hasn't been necessary for a very long time and its an unfortunate misconception that solar needs any form of policy to be competitive," Leviste said.
"We advocate for open competition between technologies. Renewables don't need a leg up. It only needs a level playing field against conventional fuels."
According to Leviste, consumers could reap substantial savings if solar power is given a chance.
"The average viewer of this show who might have a P2,000 a month Meralco bill should be able to save 30 percent of that or P600 per month if only this cheaper form of generation is adopted by Meralco."