SINGAPORE/MANILA - People in the Philippines are flocking to install solar power on rooftops and escape the burden of soaring electricity prices, making it the world's biggest spender on solar panels since the war in Iran started.
Top power distributor Meralco has raised prices by 10% since the Middle East conflict began in late February. Now, a median household spends around 12% of monthly income on electricity, assuming it consumes 200 kilowatt-hours — approximately the monthly average for three people.
