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Philippines Solar Energy Market Dynamics, Regional analysis, Key Developments Forecast Report 2024

Philippines Solar Energy

The Philippines Solar Energy Market segmentation will provide deep growth analysis of the Philippines Solar Energy industry for identifying the growth opportunities, development trends and factors limiting the growth of the market. This report offers market information based on past and present industry situations and growth aspects. Initially, the report presents the market overview covering product description, market analysis, market dynamics, opportunities and market share.

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Secondly, global Philippines Solar Energy Market report conducts a qualitative analysis to present the key manufacturer’s profile, market share, market size, sales volume, gross margin analysis. All the key regions covered in report are North America, Europe, Asia-Pacific, South America, Middle East and Africa. The Philippines Solar Energy market share and market outlook of each region from 2019-2024 are presented in this report.

The Philippines is positioned well for producing solar energy and has considerable potential to take advantage of the investments and jobs that can be created by future solar power installations, and look forward to cheaper and cleaner power that is not affected by geopolitics. Moreover, with recovery from the 2013 typhoon gathering pace, robust domestic economic growth, and a range of new projects being announced, the outlook of the Philippines power market is expected to remain positive over the forecast period.
Most of electricity generated in the Philippines can be attributed to coal-fired and oil-based power plants. The bulk of the country’s supply of crude and finished petroleum products come from the Middle East. As observed in the past, conflicts in various parts of the Middle East have adversely affected local fuel prices. As a result, the Philippines is at a considerable disadvantage, both concerning access and price. However, with more renewable energy (RE) sources in place, including solar energy, the Philippines has become less exposed to external risks and less dependent on foreign oil.

Strong Regulatory Support to Accelerate Growth

To facilitate the transition from fossil fuel-based electricity generation to renewable energy-based electricity generation, and make renewable energy investments competitive in the country, the government had introduced Renewable Energy Act of 2008. The Act set out a policy framework for net-metering, in an aim to incentivize small-scale renewable energy generation (up to 100 kW), and introduced the feed-in tariff (FIT) scheme in 2012 for wind, solar, biomass and hydro. High FIT is offered to solar project developers, and a strong project pipeline resulted in a vast capacity growth in 2016.
Additionally, the government in the Philippines aims to increase the solar PV installations, to reach 3 GW of utility solar in 2022. In addition, the cumulative solar installation is predicted to reach 8.7 GW by the end of 2030, with solar rooftops constituting 35% of the total installations. These initiatives are likely to further drive the growth of the Philippine solar energy market.

Philippine Grid Infrastructure – One of the Major Challenges Faced by the Market

The Philippine grid infrastructure is extremely inefficient, with very high transmission and distribution (T&D) losses, which is estimated at around 15% of total output. Investment into the grid system has been the government’s focus. However, due to recovery efforts following the November 2013 typhoon, progress in the modernization of the network has been delayed.

Solar Photovoltaic (PV) Systems Gaining Popularity in the Philippines

Solar energy provides an immediate solution to the country’s growing energy needs. With steadily falling costs of solar power equipment and the short duration of time needed to install and commission solar power projects, solar photovoltaic systems are increasingly becoming popular among consumers and industries across the Philippines. The commissioning of the largest solar power project (Cadiz Solar Power Plant) of Southeast Asia in Philippines, in March 2016, is a clear indication of the fact that the solar power market is rapidly emerging in the country and is among the top countries in the regional market.
Moreover, according to the National Renewable Energy Laboratory, the Philippines’ average solar radiation ranges from 128-203 W per square meter. The country’s annual average potential is analyzed to be 5.1 kWh/m2/day. This provides immense opportunities for growth in the solar energy market in Philippines.

Key Developments in the Market

• Jan 2018: Pure Energy Holdings Corporation acquired 60% stakes in three solar parks in the Philippines, and have a combined capacity exceeding 13.8 MW, to diversify into the solar sector. The remaining 40% stakes are owned by Solar Powered Agri-Rural Communities Corp (SPARC).
• Jul 2017: Solar Philippines, a Manila-based company, announced its plans to surpass annual exports of PV modules to USD 197.08 million in value by 2018. In addition, the company plans to ramp up annual output to 800 MW at the facility in Tanauan, Batangas province, by the end of 2017.
• Mar 2017: Solar Philippines started the production of its first domestically-owned solar panel factory in the Philippines.

Major players: SOLAR PHILIPPINES POWER PROJECT HOLDINGS, EQUIS ENERGY, PETROENERGY RESOURCE CORPORATION, SAN CARLOS SUN POWER Inc.

REASONS TO PURCHASE THIS REPORT

• Identify the drivers, restraints, and opportunities in the Philippine solar energy market, with an in-depth analysis.
• Analyze various perspectives of the market, with the help of PESTLE analysis.
• Identify the latest developments and strategies employed by the major market players.
• 3 months analyst support, along with the Market Estimate sheet (in Excel).

Customization of the Report

• This report can be customized to meet your requirements.

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Philippines Solar Energy Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Philippines Solar Energy Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.

The Objectives of this report are:

  • To define, describe, and analyze the Philippines Solar Energy market on the basis of product type, application, and region
  • To forecast and analyze the size of the Philippines Solar Energy market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
  • To forecast and analyze the Philippines Solar Energy market at country-level in each region
  • To strategically analyze each submarket with respect to individual growth trends and its contribution to the Philippines Solar Energy market
  • To analyze opportunities in the Philippines Solar Energy market for stakeholders by identifying high-growth segments of the market

Key Questions Answered in Philippines Solar Energy market report:

  • What will the market size be in 2024 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?

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Philippines Solar Energy Market Report Provides Comprehensive Analysis as Following:

Market segments and sub-segments

Market size & shares

Market trends and dynamics

Market Drivers and Opportunities

Market Analysis and Segmentation

Competitive landscape

Supply and demand

Technological inventions in Philippines Solar Energy trade

Marketing Channel Development Trend

Philippines Solar Energy Market Positioning

Pricing Strategy

Brand Strategy

Target consumer

Distributors/Traders List enclosed in Positioning Philippines Solar Energy Market

Philippines Solar Energy Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, Philippines Solar Energy Market 2019 report presents the descriptive analysis of the Philippines Solar Energy Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Philippines Solar Energy Market competitors.

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