Renewable Energy Market in Philippines Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

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.

Renewable Energy Market in Philippines Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Philippines Renewable Energy Market Size

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Philippines Renewable Energy Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 12.03 gigawatt
Market Volume (2030) 33.31 gigawatt
CAGR 22.60 %
Market Concentration Medium

Major Players

Philippines Renewable Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Philippines Renewable Energy Market with other markets in Energy & Power Industry

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Philippines Renewable Energy Market Analysis

The Philippines Renewable Energy Market size in terms of installed base is expected to grow from 12.03 gigawatt in 2025 to 33.31 gigawatt by 2030, at a CAGR of 22.6% during the forecast period (2025-2030).

  • Over the medium term, factors such as increasing demand for renewable energy, reduced tariffs on renewable energy, and government policies will likely drive the market during the forecast period.
  • On the other hand, the country's inefficient grid infrastructure and many islands are expected to restrain the market.
  • Nevertheless, the growing focus on achieving zero-emission targets, including targets for increasing clean power generation, will likely present significant opportunities in the Philippine renewable energy market.

Philippines Renewable Energy Industry Overview

The Philippines' renewable energy market is moderately consolidated. Some of the major players in the market (in no particular order) include Philippine Geothermal Production Company Inc., Aboitiz Power Corporation, National Power Corporation, Vena Energy, and Solar Philippines Power Projects Holdings Inc., among others.

Philippines Renewable Energy Market Leaders

  1. Vena Energy

  2. National Power Corporation

  3. Aboitiz Power Corporation

  4. Philippine Geothermal Production Company, Inc.

  5. Solar Philippines Power Projects Holdings Inc.

  6. *Disclaimer: Major Players sorted in no particular order
Philippines Renewable Energy Market Concentration
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Philippines Renewable Energy Market News

  • November 2023: ACCIONA Energía has announced that it has been awarded, together with its local partner Freya Renewables, development rights for a 160MW wind farm in The Philippines. The contract has been awarded by the Philippine Department of Energy (DOE) through its fourth Open and Competitive Selection Process (OCSP4) for hydropower, geothermal, and wind energy resources. It entails exploration, development, and utilization of rights of wind resources in a predetermined area in the municipality of Pantabangan, 150 kilometers north of Manila.
  • September 2022: Ahunan Power announced an acquisition of a majority stake in Olympia Violago Water and Power (OVWPI), a renewable energy developer. This company owns the rights to develop a 500 MW pumped hydro storage project.
  • June 2022: The Philippines Department of Energy announced the grant of 19 contracts to develop around 1.57 GW of renewable energy projects under the first round of the 2 GW Green Energy Auction Program (GEAP). This auction was held for the country's hydro, solar, wind, and biomass projects.

Philippines Renewable Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Mix, 2022
  • 4.3 Renewable Energy Installed Capacity and Forecast, in GW, till 2028
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Favorable Government Policies
    • 4.6.1.2 Increasing Demand for Renewable Energy
    • 4.6.2 Restraints
    • 4.6.2.1 Inefficient Grid Infrastructure and A High Number Of Islands in the Country
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Solar
    • 5.1.2 Wind
    • 5.1.3 Hydro
    • 5.1.4 Other Types

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Solar Philippines Power Projects Holdings Inc.
    • 6.3.2 Solenergy Systems Inc.
    • 6.3.3 Vena Energy
    • 6.3.4 Solaric Corp.
    • 6.3.5 Trina Solar Co. Ltd.
    • 6.3.6 Alternergy Philippine Holding Corp.
    • 6.3.7 AC Energy Inc.
    • 6.3.8 Vestas Wind Systems AS
    • 6.3.9 National Power Corporation
    • 6.3.10 Philippine Geothermal Production Company Inc.
    • 6.3.11 Aboitiz Power Corporation
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Developing Floating PV Parks in the Stable Backwater Areas of the Country
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Philippines Renewable Energy Industry Segmentation

Renewable energy refers to energy sources that are naturally replenished and will not be depleted over time, such as solar, wind, hydro, geothermal, and biomass energy. Unlike fossil fuels like coal, oil, and natural gas, which are finite resources and will eventually run out, renewable energy is sustainable and can be continuously harnessed without depleting the earth's resources.

The Philippines' renewable energy market is segmented by type. By type, the market is segmented into solar, wind, hydro, and other types. The market size and forecasts have been done for each segment based on capacity (gigawatts).

Type Solar
Wind
Hydro
Other Types
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Philippines Renewable Energy Market Research FAQs

How big is the Philippines Renewable Energy Market?

The Philippines Renewable Energy Market size is expected to reach 12.03 gigawatt in 2025 and grow at a CAGR of 22.60% to reach 33.31 gigawatt by 2030.

What is the current Philippines Renewable Energy Market size?

In 2025, the Philippines Renewable Energy Market size is expected to reach 12.03 gigawatt.

Who are the key players in Philippines Renewable Energy Market?

Vena Energy, National Power Corporation, Aboitiz Power Corporation, Philippine Geothermal Production Company, Inc. and Solar Philippines Power Projects Holdings Inc. are the major companies operating in the Philippines Renewable Energy Market.

What years does this Philippines Renewable Energy Market cover, and what was the market size in 2024?

In 2024, the Philippines Renewable Energy Market size was estimated at 9.31 gigawatt. The report covers the Philippines Renewable Energy Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Philippines Renewable Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Renewable Energy in Philippines Industry Report

Statistics for the 2025 Philippines Renewable Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Renewable Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.