Dublin, Jan. 22, 2026 (GLOBE NEWSWIRE) -- The "Philippines Renewable Energy - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.
The Philippines Renewable Energy Market is set for remarkable expansion from an estimated 14.45 gigawatts in 2026 to 34.37 gigawatts by 2031, growing at a compound annual growth rate (CAGR) of 18.91% during the forecast period. This growth is fueled by policy-mandated renewable portfolio standards, decreasing costs of solar and wind technologies, rising retail energy tariffs, and a strategic moratorium on new coal plants.
As coal constituted 60% of electricity supply in 2022, efforts are now focused on retiring older capacity with support from the USD 500 million Climate Investment Funds, paving the way for new projects. Notable developments include ACEN's 600 MW Bataan solar farm and Solar Philippines' 3.5 GW Terra Solar complex. These grid-ready assets are capturing first-mover advantages and attracting significant institutional capital. Concurrently, the corporate power-purchase agreement market is flourishing, driven by data centers and 24/7 BPO campuses seeking to mitigate high regional tariffs.
Renewable Portfolio Standards & Feed-in Tariffs
The Renewable Portfolio Standard has been projected to rise from 11% in 2024 to 35% by 2030, which mandates that distribution utilities procure a significant supply from renewable sources. The Green Energy Auction Program has become the main channel for procurement, with 3.4 GW awarded in 2024. Policy improvements, like the Energy Regulatory Commission's 2024 circular, have simplified foreign ownership rules, enhancing the fiscal environment for renewable investments.
Declining Solar-PV & Wind Turbine Costs
Global decreases in solar module prices since 2010 have driven utility-scale solar costs below PHP 2.50/kWh in regions such as Ilocos Norte. ACEN's Bataan project achieved a benchmark of less than USD 0.60 per watt, alongside projections of declining offshore-wind costs by NREL. Companies like Trina Solar and Vestas are bringing advanced technology to the Philippine market, further accelerating progress.
Grid Congestion & Limited Transmission Capacity
As of 2024, only 75 out of 258 planned transmission projects were completed, contributing to congestion that adds PHP 0.80/kWh to consumer bills. Delays and regulatory constraints are impeding further solar and wind integration, but addressing these challenges could unlock significant potential for renewable energy sources.
Additional Market Drivers and Restraints Include:
- Rising Electricity Demand & High Retail Tariffs
- Corporate PPAs from IT/BPO hubs
- Regulatory Uncertainty around CREZ Auctions
Segment Analysis
In 2025, hydropower represented 41.20% of the installed capacity and maintains its importance in power generation, particularly in mountainous regions. Although solar and wind see faster growth, ocean energy is set to expand rapidly, establishing long-term potential in offshore wind power due to vast technical resources.
The extensive implementation of solar energy projects is forecast to reinforce Luzon's electrical grid dominance, while wind farms along monsoon-prone corridors contribute significantly. Prominent companies such as ACEN Corporation, Solar Philippines Power Project Holdings Inc., and others are leading the transformation of the energy landscape.
Key Topics Covered:
- Introduction
- Study Assumptions & Market Definition
- Scope of the Study
- Research Methodology
- Executive Summary
- Market Landscape
- Market Overview
- Market Drivers
- Market Restraints
- Supply-Chain Analysis
- Regulatory Landscape
- Technological Outlook (Hybrid, Floating, Storage)
- Porter's Five Forces
- PESTLE Analysis
- Market Size & Growth Forecasts
- By Technology
- By End-User
- Competitive Landscape
- Market Concentration
- Strategic Moves (M&A, JVs, Funding, PPAs)
- Market Share Analysis
- Company Profiles
- Market Opportunities & Future Outlook
- White-space & Unmet-Need Assessment
- Developing Floating PV Parks in Calm Backwaters
- Aboitiz Power Corporation
- ACEN Corporation
- Solar Philippines Power Project Holdings Inc.
- Vena Energy
- First Gen Corporation
- Energy Development Corporation (EDC)
- SN Aboitiz Power Group
- Alternergy Holdings Corp.
- Trina Solar Co. Ltd.
- Vestas Wind Systems A/S
- Solenergy Systems Inc.
- Solaric Corp.
- National Power Corporation (NPC-PSALM)
- Philippine Geothermal Production Company Inc.
- Meralco PowerGen Corp.
- Siemens Gamesa Renewable Energy
- Nexif Energy
- Kepco Philippines Holdings
- Enfinity Global Inc.
- Sharp Energy Solutions
A selection of companies mentioned in this report includes, but is not limited to:
For more information about this report visit https://www.researchandmarkets.com/r/z40hir
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