Forecast: Renewable Energy Consumption in Philippines 2024 - 2028 Discover more data with ReportLinker!

The Philippines renewable energy market reached around 25.60 TWh in 2024. The market is projected to grow at a CAGR of 4.80% between 2025 and 2034 to attain nearly 40.91 TWh by 2034.

Forecast: Total Renewable Energy in Philippines 2024 - 2028 Discover more data with ReportLinker!

The Philippines Renewable Energy Market, valued at USD 1.41 Billion in 2022, is poised for robust growth in the forecast period, with an anticipated Compound Annual Growth Rate (CAGR) of 1.20% through 2028.

Philippines PH: Renewable Energy Consumption: % of Total Final Energy Consumption data was reported at 27.452 % in 2015. This records a decrease from the previous number of 28.582 % for 2014. Philippines PH: Renewable Energy Consumption: % of Total Final Energy Consumption data is updated yearly, averaging 32.712 % from Dec 1990 (Median) to 2015, with 26 observations. The data reached an all-time high of 51.960 % in 1991 and a record low of 27.452 % in 2015. Philippines PH: Renewable Energy Consumption: % of Total Final Energy Consumption data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Philippines – Table PH.World Bank: Energy Production and Consumption. Renewable energy consumption is the share of renewables energy in total final energy consumption.; ; World Bank, Sustainable Energy for All (SE4ALL) database from the SE4ALL Global Tracking Framework led jointly by the World Bank, International Energy Agency, and the Energy Sector Management Assistance Program.; Weighted Average;

Forecast: Renewable Energy Supply in Philippines 2024 - 2028 Discover more data with ReportLinker!

Renewable energy consumption (% of total final energy consumption) in Philippines was reported at 28 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Philippines - Renewable energy consumption (% of total final energy consumption) - actual values, historical data, forecasts and projections were sourced from the World Bank on October of 2025.

Philippines Market is Segmented by Type (Solar, Wind, Hydro, and Other Types). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments.

Forecast: Renewable Energy Supply (Excluding Solid Biofuels) in Philippines 2024 - 2028 Discover more data with ReportLinker!

The size of the Philippines Wind Energy Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 15.70">> 15.70% during the forecast period. Wind energy is a form of renewable energy generated by harnessing the kinetic energy of wind. This energy is captured using wind turbines, which convert the wind's motion into mechanical power and subsequently into electricity. Wind turbines consist of large blades mounted on a tower; as the wind blows, it turns the blades, which spin a rotor connected to a generator, producing electricity. One of the primary advantages of wind energy is its sustainability. Wind is an abundant and inexhaustible resource, making it a reliable source of clean energy. Unlike fossil fuels, wind energy does not produce greenhouse gas emissions or air pollutants, significantly reducing its environmental impact. This makes wind energy a crucial component in efforts to combat climate change and reduce dependence on non-renewable energy sources. Recent developments include: June 2023: BlueFloat Energy, a Spanish offshore wind developer, is expected to build a 7.6GW portfolio of offshore wind projects in the Philippines. Central Luzon, South Luzon, Northern Luzon, and Southern Mindoro would be the locations for the portfolio. The company has acquired wind energy service contracts for the installations, which range in size from 1.5GW to 3.5GW., March 2023: The Department of Energy of the Philippines inked three contracts with a Danish fund manager for offshore wind energy development projects totaling 2,000 megawatts. The service contracts with Copenhagen Infrastructure New Markets Fund (CINMF) would have a 25-year operational lifetime, the first foreign corporation permitted to own a 100% stake in Philippine offshore wind energy., January 2022: The Blue Circle and its partner CleanTech Global Renewables Inc. signed a contract to construct an offshore wind project in the Philippines with a capacity of 1.2 GW located in Bulalacao, Oriental Mindoro. The wind farm will feature 100 turbines with a unit capacity of 12 MW.. Key drivers for this market are: 4., Increased Demand for Renewable Energy and Favorable Government Policies4.; The Reduced Wind Power Tariff. Potential restraints include: 4., The Increasing Adoption of Alternate Clean Power Sources Such as Solar and Biomass. Notable trends are: Onshore Wind Energy Segment is Expected to Dominate the Market.

The Southeast Asia Renewable Energy Market Report is Segmented by Type (Wind, Solar, Hydro, Bioenergy, and Others), End-Use Sector (Utility-Scale, Commercial and Industrial, and Residential), and Geography (Vietnam, Indonesia, Philippines, Thailand, Malaysia, Singapore, and Rest of Southeast Asia). The Market Sizes and Forecasts are Provided in Terms of Installed Capacity (GW).

The Philippines solar energy market reached around 2.23 TWh in 2024. The market is projected to grow at a CAGR of 17.90% between 2025 and 2034 to reach nearly 11.57 TWh by 2034.

The Southeast Asia Renewable Energy Market size was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, exhibiting a CAGR of 7.40 % during the forecast's periods. Currently, the Southeast Asia renewable energy market is vibrant due to rising awareness and concern on environmental conservation and energy portfolio diversification across the region’s countries. Southeast Asia has abundant renewable resource endowment such as solar energy, wind energy, hydro energy, biomass energy etc. for which the country is in a good standing to harness environmental amenities to respond to increasing energy demands and climate change challenges. Countries such as Thailand, Vietnam, Indonesia, and the Philippines are among those in the region that are most progressing in terms of renewable energy plans and available diverse energy sources. The government has the most influence because existing markets are mainly dependent on these policies and bonuses to grow. Most of the SEA countries have adopted the supporting policies like feed-in tariffs, tax exemptions, and quotas for the renewables to spur investment and promote more project activities. The cost of renewable technologies has come down over the years; they have improved in efficiency and are generally cheaper as compared to the conventional energy sources. Nevertheless, the market’s opportunities are sided with challenges, such as regulations, limited grids and access to finance. Moreover, the fluctuating nature of solar and wind energy sources implies that investment has to be made in other areas of electric infrastructure and hence storage technologies. Nevertheless, the given challenges should not overshadow the fact that the renewables market in SEA remains promising, which will contribute to the energy security of the region, its economic development, as well as the achievement of environmental objectives and increase the significance of SEA in the process of transformation of the world’s energy mix. Recent developments include: February 2024: The French development agency, Agence Française de Développement, announced that it was seeking to engage individual regional or international specialists to form a panel of experts to provide technical assistance services for the development of the 1.2 GW Bac Ai pumped-storage hydropower plant in the Ninh Thuan province of Vietnam., January 2024: Nexif Ratch Energy Investments Pte. Ltd, an owner/operator of clean-energy power, acquired the 30 MW Minh Luong hydropower plant, a run-of-river facility with peak-hour storage in Lao Cai province, Vietnam. The acquisition contributes to strengthening the Nexif Ratch Energy portfolio’s growth path in renewables and will create a stable and recurring income through a long-term power purchase agreement.. Key drivers for this market are: 4., Increasing Investments in Renewable Energy Generation4.; Favorable Government Policies. Potential restraints include: 4., Initial Cost of Renewable Energy Is High. Notable trends are: Solar Energy Segment to Witness Significant Growth.

The Philippines power market, valued at approximately $X million in 2025, is projected to experience robust growth, driven by increasing energy demand fueled by a growing population and expanding economy. A compound annual growth rate (CAGR) exceeding 2.00% from 2025 to 2033 indicates a significant market expansion. Key drivers include the government's push for renewable energy adoption to enhance energy security and reduce reliance on fossil fuels, coupled with rising industrialization and urbanization. The market is segmented by generation source, with thermal, hydro, and renewable energy sources dominating. Renewable energy, encompassing solar, wind, and geothermal, is expected to witness the most significant growth due to favorable government policies and decreasing technology costs. However, challenges remain, including the country's aging power infrastructure requiring substantial investment for upgrades and maintenance, and potential grid instability due to the intermittent nature of some renewable sources. Leading players like San Miguel Corporation, AboitizPower, First Gen, and ACEN Corporation are actively shaping the market landscape through investments in new generation capacity and grid modernization. The competitive landscape is marked by a mix of private and state-owned entities. The government's continued focus on improving the regulatory framework and attracting foreign investment is expected to further propel market growth. While the transition to renewable energy presents substantial opportunities, managing the integration of intermittent renewable sources into the existing grid and ensuring grid reliability will be crucial for the sustained growth of the Philippines power market. The forecast period (2025-2033) suggests a consistent upward trajectory, with potential fluctuations influenced by macroeconomic conditions and government policy changes. Strategic partnerships and investments in smart grid technologies will play a vital role in optimizing grid efficiency and promoting sustainable growth across all segments of the power sector. Recent developments include: In 2022, Shell PLC plans for a joint venture with Nickel Asia Corp (NAC) to develop 3 GW of renewable energy projects in the Philippines and to develop 1 GW of renewable energy projects by 2028., In June 2022, the Philippines Department of Energy awarded 19 contracts for renewable energy projects with a capacity of 1.57 GW under the first round of the 2 GW Green Energy Auction Program (GEAP).. Notable trends are: Renewable Energy Growth in the nation.

In Philippines Renewable Energy Infrastructure Market, offering valuable insights, key market trends, competitive landscape, and future outlook to support strategic decision-making and business growth.

The Asia Pacific renewable energy market was valued at USD 347.00 Billion in 2024. Corporate clean energy procurement in Southeast Asia is fuelling demand for utility-scale solar and wind assets, supported by green PPAs and voluntary market instruments across logistics, technology, and FMCG sectors. As a result, the market is expected to grow at a CAGR of 9.10% during the forecast period of 2025-2034 to reach a value of USD 829.04 Billion by 2034.

Growth in the global market is led by disruptive policies, aggressive investments, and unique innovations tailored to regional demands. This shift is rooted in strategic undertakings by governments and private entities alike. In 2023, China alone added nearly 216 GW of new renewable capacity, which made up more than 55% of the global share. Meanwhile, India's National Green Hydrogen Mission, backed by USD 2.4 billion in government funding, is driving niche renewable categories with export potential.

Japan's floating offshore wind farms and Australia's utility-scale battery storage are steering the Asia Pacific renewable energy market growth into a new generation of energy infrastructure. The region, known for its heavy industrial base, is increasingly banking on decentralised microgrids and grid-parity solar solutions to enhance energy security. The ASEAN Plan of Action for Energy Cooperation (APAEC) aims for 23% renewable energy in the total primary energy supply by 2025, which now looks modest as countries exceed interim targets.

Even mid-tier economies like Vietnam and the Philippines are boosting the market dynamics. Vietnam’s rooftop solar sector has attracted foreign investments from firms like SunPower and First Solar, and regional collaboration. Multilateral agencies are now favouring the region for funding unique hybrid energy projects.

Forecast: Solar Energy Consumption in Philippines 2022 - 2026 Discover more data with ReportLinker!

The size of the Philippines Power Generation EPC Industry market was valued at USD 383.98 Million in 2023 and is projected to reach USD 612.16 Million by 2032, with an expected CAGR of 6.89% during the forecast period. Such growth in the Philippines market for the power generation EPC market will come primarily from increased energy consumption and the proactive efforts of the government to better energize the country. The Philippines is growing rapidly on both population and economic lines; therefore, it faces the dual challenge of increasing the reliability of its power supply while moving toward sustainable energy. This has, therefore led to more investments in renewable energy projects, including solar, wind, and hydroelectric power, in accord with the government's Renewable Energy Act for the increase of the share of renewables in the energy mix. This transition will be significantly implemented by EPC contractors who provide the entire package of a project's life cycle-from design to implementation. International investments and public-private partnerships also spur the market, which raises opportunities for entry at the local as well as international levels. The challenges in the form of regulatory hurdles, funding constraints, and environmental concerns need to be overcome to optimize project viability. Such growth also motivates urgency toward energy security and independence, where innovation in energy technology is prompting it. In such scenarios, EPC firms have to integrate modern project management concepts into their systems as well as sustainable engineering solutions for the energy vertical. Exploding demand for cleaner and more efficient ways of generating power shall witness the Philippines' EPC industry opportunity in the regional arena as it taps toward making this end an economic growth driver Key drivers for this market are: 4., Increasing Energy Demand4.; Upcoming and Ongoing Projects of Power Plants. Potential restraints include: 4., Complexity and Expensive Nature of Coal-fired and Natural-gas-fired Power Plants. Notable trends are: Conventional Thermal Power is Expected to Dominate the Market.

The Philippines renewable energy market is experiencing robust growth, driven by increasing electricity demand, government support for clean energy initiatives, and a commitment to reducing carbon emissions. The market, valued at approximately $X million (estimated based on industry averages and a 22.60% CAGR from a presumed base year of 2019 to 2025; the exact 2019 figure is unavailable but necessary to calculate the 2025 value. A reasonable estimate must be used to populate the chart data reflecting this growth) in 2025, is projected to expand significantly over the forecast period (2025-2033), exhibiting a compound annual growth rate (CAGR) of 22.60%. This expansion is fueled by several key drivers, including the increasing affordability of renewable energy technologies, particularly solar and wind, alongside government incentives like feed-in tariffs and renewable portfolio standards. Furthermore, the Philippines' geographically advantageous position, with its significant solar irradiation and wind resources, presents a compelling opportunity for renewable energy development. Despite the positive outlook, the industry faces challenges such as grid infrastructure limitations, intermittency issues associated with solar and wind power, and the need for substantial investment in transmission and distribution networks to effectively integrate renewable energy sources into the national grid. Nevertheless, the ongoing efforts by both the public and private sectors, including companies like Vena Energy, Trina Solar, and AC Energy, indicate a strong commitment to overcoming these obstacles and accelerating the transition towards a cleaner energy future. This rapid expansion will likely be concentrated in areas with higher solar and wind potential, leading to regional variations in market penetration. Further analysis on specific segments within the renewable energy sector (e.g., solar, wind, geothermal) is needed to provide more granular market insights. Key drivers for this market are: 4., Favorable Government Policies4.; Increasing Demand for Renewable Energy. Potential restraints include: 4., Inefficient Grid Infrastructure and A High Number Of Islands in the Country. Notable trends are: The Solar Energy Segment is Expected to Experience Significant Growth.

"Philippines Wind Power Analysis: Market Outlook to 2030, Update 2021” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the wind power market in Philippines. The research details renewable power market outlook in Philippines (includes geothermal, small hydro, wind, biopower and solar power) and provides forecasts up to 2030. The report highlights installed capacity and power generation trends from 2010 to 2030 in Philippines’ wind power market. A detailed coverage of renewable energy policy framework governing the market with specific policies pertaining to wind power is provided in the report. The research also provides company snapshots of some of the major market participants. The report is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts. Read More