MARKET STATISTICS

PHILIPPINES AIMING TO REACH 2 GW OF INSTALLED SOLAR PV CAPACITY BY 2023

The Philippines deployed more than 1.5 GW of solar PV, and the country's solar installation is growing quickly. If we compare the solar installation from CY 2021 to CY 2020, there was a growth rate of almost 200% in the year Around 1 32 GW of Solar PV were deployed in the nation by the end of 2021, a 29% increase from 2020

CUMULATIVE SOLAR PV INSTALLED CAPACITY IN PHILIPPINES

The introduction of the FiT (feed-in-tariff) programme in 2010, which provided qualified producers of renewable energy with a guaranteed fixed-rate payment per kilowatt-hour for the sale of electricity, has resulted in an explosion of RE technologies throughout the nation. There are currently 127 non-hydro renewable energy projects with a combined capacity of 21 4 GW in development A total of 1,809 7 MW has been installed between 2016 and 2022, adding capacity to the nation's energy grid. The majority of which was derived from solar projects, with 1,221 7 MW, followed by projects using biomass, 22 5 MW of geothermal energy, 151.4 MW of hydropower, and 16 MW of wind power

Six majors RE projects were completed between 2016 and 2022, adding 41 5 MW of installed capacity and 39 6 MW of reliable capacity Three newly constructed solar projects brought 7.5 MW to the installed capacity, while two hydroelectric projects and one wind project contributed 18 MW and 16 MW, respectively

SOURCE: DepartmentofEnergy*estimate

Solarquarterresearch

YEARLY SOLAR PV INSTALLAED CAPACITY IN PHILIPPINES

Renewable energy projects that have been committed include geothermal (116 MW), hydropower (233 MW), biomass (65 MW), and solar (100 MW) (489 MW) With 2,113 MW of additional capacity, BESS technology is also available.

By the end of 2021, the nation's installed power capacity was estimated to be around 26 88 GW, with coal holding a 58 48% market share and accounting for the majority of the installed power capacity with about 11.7 GW. With an installed capacity of roughly 3 5 GW, natural gas ranks third in terms of power generation in the state The second-largest source of power after geothermal, which has a power capacity of 10 68 GW and a market share of 44.93% among renewables, is renewable Hydro installed 9 2 GW with a capacity of almost 39%, followed by solar, wind, and biomass with installed capacities of 1 47 GW, 1 27 GW, and 1 16 GW, respectively

SOURCE: DepartmentofEnergy*estimate

SOLARQUARTERRESEARCH

In order to reduce emissions from thermal power plants, which currently generate the majority of the nation's electricity from coal, the Department of Electricity (DOE) plans to increase the amount of solar power in the grid. This goal has been set for the year 2040