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Philippines Solar Energy Market

Publisher BlueWeave Consulting
Published Aug 18, 2025
Length 136 Pages
SKU # BLWC20706828

Description

Philippines Solar Energy Market, By Technology (Solar Photovoltaic (PV), Concentrated Solar Power (CSP)); By Component (Solar Panels, Solar Inverters, Solar Batteries, Solar Pumps); By Application (Residential, Commercial, Industrial, Government Projects), Trend Analysis, Competitive Landscape & Forecast, 2019–2031Philippines Solar Energy Market Size Booming to Surpass USD 4 Billion by 2031

Philippines Solar Energy Market is flourishing primarily due to the government’s incentives, rising electricity tariffs, a surging demand for energy, falling solar PV costs, grid upgrades, rooftop adoption, foreign direct investments, and technological innovations.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Philippines Solar Energy Market size by value at USD 2.19 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects Philippines Solar Energy Market size to boom at a robust CAGR of 9.17%, reaching a value of USD 4.04 billion by 2031. Strong government support through Renewable Portfolio Standards and Green Energy Auctions, rising electricity tariffs, and frequent power outages are key drivers for Philippines Solar Energy Market. Falling solar equipment costs and improved storage technologies make adoption more accessible. Rapid urbanization, growing energy demand, and foreign investments further accelerate market growth. Rooftop solar is gaining popularity among households seeking energy independence. Local manufacturing, skilled labor, and joint ventures with foreign developers enhance supply chain resilience, while grid upgrades enable efficient distribution of solar power.

Opportunity – Expansion of Off-Grid Solar Solutions in Rural Areas

The expansion of off-grid solar solutions is a key growth driver for Philippines Solar Energy Market, especially for rural and geographically isolated communities. With over 4.5 million households lacking reliable electricity, solar photovoltaic systems offer a cost-effective, modular, and sustainable alternative to grid extension. Government initiatives under the Philippine Energy Plan and the Renewable Energy Act of 2008 support this transition, enabling energy access, economic development, and improved quality of life in underserved regions.

Solar Panels Segment Dominates Philippines Solar Energy Market

Solar panels represent the largest segment in Philippines Solar Energy Market, driven by their fundamental role in converting sunlight into electricity. They are widely deployed across residential, commercial, and utility-scale projects due to falling module prices, ease of installation, and strong government support. As the country accelerates its renewable energy transition, solar panels remain the most in-demand component, outpacing inverters, batteries, and pumps in both volume and investment, making them the backbone of the Philippines’ solar energy infrastructure.

Impact of Escalating Geopolitical Tensions on Philippines Solar Energy Market

Escalating geopolitical tensions, especially in the South China Sea, threaten the Philippines’ energy security by complicating access to fossil fuel reserves and increasing reliance on imports. As traditional energy sources face supply disruptions, the country is accelerating its shift toward solar energy to reduce dependency and enhance resilience. These tensions have indirectly boosted investment in solar infrastructure, positioning renewables as a strategic alternative. However, supply chain vulnerabilities and global competition for solar components may pose challenges to the growth of Philippines Solar Energy Market.

Competitive Landscape

Philippines Solar Energy Market is highly fragmented, with numerous players serving the market. Major companies dominating the market are Solar Philippines, First Gen Corporation, Meralco PowerGen Corporation, SN Aboitiz Power, Vivant Energy, AC Energy (Ayala Corporation), Energy Development Corporation (EDC), SunAsia Energy, Citicore Power Inc., Greenergy Solar, and Maxeon Solar Technologies. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge over their competitors in Philippines Solar Energy Market.

The report's in-depth analysis provides information about growth potential, upcoming trends, and Philippines Solar Energy Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Philippines Solar Energy Market, along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

136 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. Philippines Solar Energy Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Abundant Solar Irradiation Across the Country
3.2.1.2. Supportive Government Policies and Incentives
3.2.1.3. Declining Costs of Solar Technology and Installation
3.2.2. Restraints
3.2.2.1. High Initial Investment and Financing Barriers
3.2.2.2. Limited Grid Infrastructure and Integration Issues
3.2.2.3. Regulatory Uncertainty and Bureaucratic Delays
3.2.3. Opportunities
3.2.3.1. Expansion of Off-Grid Solar Solutions in Rural Areas
3.2.3.2. Corporate Adoption of Rooftop Solar for Sustainability Goals
3.2.4. Challenges
3.2.4.1. Ensuring Land Acquisition and Permitting Complexities
3.2.4.2. Skilled Workforce Shortage for Solar Project Deployment
3.3. Technological Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. Philippines Solar Energy Market: Marketing Strategies
5. Philippines Solar Energy Market: Pricing Analysis
6. Philippines Solar Energy Market Overview
6.1. Market Size & Forecast, 2019–2031
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Technology
6.2.1.1. Solar Photovoltaic (PV)
6.2.1.2. Concentrated Solar Power (CSP)
6.2.2. By Component
6.2.2.1. Solar Panels
6.2.2.2. Solar Inverters
6.2.2.3. Solar Batteries
6.2.2.4. Solar Pumps
6.2.3. By Application
6.2.3.1. Residential
6.2.3.2. Commercial
6.2.3.3. Industrial
6.2.3.4. Government Projects
7. Competitive Landscape
7.1. List of Key Players and Their Offerings
7.2. Nigeria Insurance Company Market Share Analysis, 2024
7.3. Competitive Benchmarking, By Operating Parameters
7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Philippines Solar Energy Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
9.1. Solar Philippines
9.2. First Gen Corporation
9.3. Meralco PowerGen Corporation
9.4. SN Aboitiz Power
9.5. Vivant Energy
9.6. AC Energy (Ayala Corporation)
9.7. Energy Development Corporation (EDC)
9.8. SunAsia Energy
9.9. Citicore Power Inc.
9.10. Greenergy Solar
9.11. Maxeon Solar Technologies
9.12. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
11.1. Qualitative Research
11.1.1.Primary & Secondary Research
11.2. Quantitative Research
11.3. Market Breakdown & Data Triangulation
11.3.1.Secondary Research
11.3.2.Primary Research
11.4. Breakdown of Primary Research Respondents, By Region
11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 Philippines Solar Energy Market Segmentation
Figure 2 Philippines Solar Energy Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2024
Figure 4 Philippines Solar Energy Market Size, By Value (USD Million), 2019–2031
Figure 5 Philippines Solar Energy Market Share, By Technology, By Value, 2019–2031
Figure 6 Philippines Solar Energy Market Share, By Component, By Value, 2019–2031
Figure 7 Philippines Solar Energy Market Share, By Application, By Value, 2019–2031
List of Tables
Table 1 Philippines Solar Energy Market Size, By Value (USD Million), 2019–2031
Table 2 Philippines Solar Energy Market Size, By Technology, By Value, 2019–2031
Table 3 Philippines Solar Energy Market Size, By Component, By Value, 2019–2031
Table 4 Philippines Solar Energy Market Size, By Application, By Value, 2019–2031
Table 5 Philippines Solar Energy Market Size, By Size, By Value, 2019–2031
Table 6 Solar Philippines Company Overview
Table 7 Solar Philippines Financial Overview
Table 8 First Gen Corporation Company Overview
Table 9 First Gen Corporation Financial Overview
Table 10 Meralco PowerGen Corporation Company Overview
Table 11 Meralco PowerGen Corporation Financial Overview
Table 12 SN Aboitiz Power Company Overview
Table 13 SN Aboitiz Power Financial Overview
Table 14 Vivant Energy Company Overview
Table 15 Vivant Energy Financial Overview
Table 16 AC Energy (Ayala Corporation) Company Overview
Table 17 AC Energy (Ayala Corporation) Financial Overview
Table 19 Energy Development Corporation (EDC) Financial Overview
Table 20 SunAsia Energy Company Overview
Table 21 SunAsia Energy Financial Overview
Table 22 Citicore Power Inc. Company Overview
Table 23 Citicore Power Inc. Financial Overview
Table 24 Greenergy Solar Company Overview
Table 25 Greenergy Solar Financial Overview
Table 26 Maxeon Solar Technologies Company Overview
Table 27 Maxeon Solar Technologies Financial Overview

Pricing

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