A report from BusinessWorld said the House of Representatives Congressional Policy and Budget Research Department (CPBRD) warned that a sudden and aggressive shift to renewable energy could strain the national budget and hinder industrialization.
The CPBRD noted that rapid adoption of renewable energy may require significant government subsidies and infrastructure investment, potentially diverting funds from other development priorities and raising the cost of electricity for consumers.
The department also highlighted the risk of higher electricity bills, as the transition to renewables often involves upfront costs that are passed on to end-users, and cautioned against policies that prioritize speed over economic viability.