Philippines adds nearly 800 GW of RE in 2024

Last year’s total exceeded the installations in 2021 to 2023.

The Philippines has installed 794.34 megawatts (MW) of new renewable energy capacity in 2024, according to latest data from the Department of Energy (DOE).

In a statement, last year’s data exceeded the combined 759.82 MW installed in 2021 (230.10 MW), 2022 (328.18 MW), and 2023 (201.54 MW). The Net-Metering Program also contributed around 141 MW from 2015 to 2024, whilst renewable energy projects for own-use from 2009 to 2024 generated at least an additional 252 MW.

DOE said key policy and regulatory enhancements have contributed to this rapid capacity addition. These include the increase in the minimum annual incremental renewable energy requirement from 1% to 2.5% starting 2023 for grid-connected mandated participants.

The decline in technology costs also contributed to renewable energy capacity addition, as the significant decrease in the cost of solar panels made clean energy more competitive with fossil fuels, it added.