Philippines Solar Energy Market Introduction and Overview
According to SPER Market Research, the Philippines Solar Energy Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Philippines Solar Energy Market, including market size and trends, product mix, Applications, and supplier analysis. The industry responsible for the production, transfer, and use of solar energy in the Philippines is referred to as the solar energy market. This covers solar thermal and photovoltaic (PV) systems, as well as other related technologies. Both large-scale solar power plants and small-scale installations, including rooftop solar panels on homes and businesses, are included in the market.
Key Industry Developments
- Green Energy Auction: To encourage investment in renewable energy projects, such as solar power, the Department of Energy held a green energy auction. The project selection process was intended to be competitive and transparent through the auction.
- Expansion of Net Metering: To enable the export of excess solar energy to the grid, the government expanded the net metering programme, enabling larger-scale solar installations to participate.
Market Opportunities and Challenges
Opportunities:
- Off-grid Solutions: There are many isolated and island villages in the Philippines that are not wired into the main electrical grid. For these off-grid places, solar power can offer a dependable and sustainable energy alternative.
- Distributed generation: By promoting rooftop solar installations, transmission and distribution losses can be decreased and the power grid's resiliency can be improved.
Challenges:
- Grid Integration Challenges: Including grid stability, intermittency, and storage difficulties, integrating solar power into the current electrical system presents both technical and practical challenges.
- Lack of finance Options: It continues to be difficult to obtain finance for solar energy projects, especially for small and medium-sized businesses and residential installations.
Market Competitive Landscape
The market exhibits a moderate level of fragmentation due to the presence of both domestic and foreign businesses, the solar energy market in the Philippines is quite competitive. The following are significant market participants: Aboitiz Power Corporation, AC Energy Philippines, Inc., Citicore Power, Inc., Energy Development Corporation (EDC), Enfinity Philippines Renewable Resources, Inc., First Gen Corporation, Megawatt Clean Energy Corporation, Meralco PowerGen Corporation, Solar Philippines, SunPower Corporation, Others. These businesses are involved in solar power plant development, building, and operation as well as solar panel distribution and installation for residential and commercial clients. Partnerships, mergers, and acquisitions, as well as investments in R&D to achieve a competitive edge, define the competitive landscape.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Application, By End-Users
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| Regions covered | Luzon, Mindanao, Visayas
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| Companies Covered | Aboitiz Power Corporation, AC Energy Philippines, Inc., Citicore Power, Inc., Energy Development Corporation (EDC), Enfinity Philippines Renewable Resources, Inc., First Gen Corporation, Megawatt Clean Energy Corporation, Meralco PowerGen Corporation, Solar Philippines, SunPower Corporation, Others
|
COVID-19 Impact on Philippines Solar Energy Market
The Covid-19 pandemic's effects on the Philippines' solar energy economy have been conflicting. The epidemic also made it clear how crucial it is to have resilient and sustainable energy systems, even though the early lockdown measures interfered with project developments and supply chains. Due to the crisis, there is now a greater understanding of the necessity of switching to clean energy sources, and recovery plans now include additional commitments to the development of renewable energy sources.
Key Target Audience:
- Companies producing solar panels, inverters, and other solar-related equipment.
- Construction and Real Estate Developers
- Educational Institutions
- Energy Consultants and Engineering Firms
- Environmentalists and Climate Activists
- Farmers interested in using solar energy for agricultural operations, such as irrigation and processing.
- Off-Grid Communities
- Residential Consumers
- Others
Our in-depth analysis of the Philippines Solar Energy Market includes the following segments:
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By Type:
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Concentrated Solar Power (CSP) Systems
Solar Photovoltaic (PV) Systems
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By Application:
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Off-grid
On-grid
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By End-Users:
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Commercial
Industrial
Residential
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Key Topics Covered in the Report:
- Philippines Solar Energy Market Size (FY’2023-FY’2033)
- Overview of Philippines Solar Energy Market
- Segmentation of Philippines Solar Energy Market By Type (Concentrated Solar Power Systems, Solar Photovoltaic Systems)
- Segmentation of Philippines Solar Energy Market By Application (Off-grid, On-grid)
- Segmentation of Philippines Solar Energy Market By End-Users (Commercial, Industrial, Residential)
- Statistical Snap of Philippines Solar Energy Market
- Expansion Analysis of Philippines Solar Energy Market
- Problems and Obstacles in Philippines Solar Energy Market
- Competitive Landscape in the Philippines Solar Energy Market
- Impact of COVID-19 and Demonetization on Philippines Solar Energy Market
- Details on Current Investment in Philippines Solar Energy Market
- Competitive Analysis of Philippines Solar Energy Market
- Prominent Players in the Philippines Solar Energy Market
- SWOT Analysis of Philippines Solar Energy Market
- Philippines Solar Energy Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Philippines Solar Energy Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Philippines Solar Energy Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Philippines Solar Energy Market
7. Philippines Solar Energy Market, By Type (USD Million)
7.1. Philippines Solar Energy Market Value Share and Forecast, By Type, 2023-2033
7.2. Concentrated Solar Power (CSP) Systems
7.3. Solar Photovoltaic (PV) Systems
8. Philippines Solar Energy Market, By Application (USD Million)
8.1. Philippines Solar Energy Market Value Share and Forecast, By Application, 2023-2033
8.2. Off-grid
8.3. On-grid
9. Philippines Solar Energy Market, By End-Users (USD Million)
9.1. Philippines Solar Energy Market Value Share and Forecast, By End-Users, 2023-2033
9.2. Commercial
9.3. Industrial
9.4. Residential
10. Philippines Solar Energy Market Forecast, 2019-2033 (USD Million)
10.1. Philippines Solar Energy Market Size and Market Share
11. Philippines Solar Energy Market, By Type, 2019-2033 (USD Million)
11.1. Philippines Solar Energy Market Size and Market Share By Type (2019-2026)
11.2. Philippines Solar Energy Market Size and Market Share By Type (2027-2033)
12. Philippines Solar Energy Market, By Application, 2019-2033 (USD Million)
12.1. Philippines Solar Energy Market Size and Market Share By Application (2019-2026)
12.2. Philippines Solar Energy Market Size and Market Share By Application (2027-2033)
13. Philippines Solar Energy Market, By End-Users, 2019-2033 (USD Million)
13.1. Philippines Solar Energy Market Size and Market Share By End-Users (2019-2026)
13.2. Philippines Solar Energy Market Size and Market Share By End-Users (2027-2033)
14. Philippines Solar Energy Market, By Region, 2019-2033 (USD Million)
14.1. Philippines Solar Energy Market Size and Market Share By Region (2019-2026)
14.2. Philippines Solar Energy Market Size and Market Share By Region (2027-2033)
14.3. Luzon
14.4. Mindanao
14.5. Visayas
15. Company Profile
15.1. Aboitiz Power Corporation
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. AC Energy Philippines, Inc.
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Citicore Power, Inc.
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Energy Development Corporation (EDC)
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Enfinity Philippines Renewable Resources, Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. First Gen Corporation
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Megawatt Clean Energy Corporation
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Meralco PowerGen Corporation
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Solar Philippines
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. SunPower Corporation
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope