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Manila Bulletin devider Business devider Philippines shatters previous records with robust renewable energy expansion in 2024

Philippines shatters previous records with robust renewable energy expansion in 2024

Published Feb 11, 2025 08:46 am

The Department of Energy (DOE) announced an increase in renewable energy (RE) integration, with new capacity added to the grid last year exceeding the total installed over the past three years.

In a statement released on Tuesday, Feb. 11, the DOE reported that 794.34 megawatts (MW) of new RE capacity were added from January to December 2024, surpassing the 759.82 MW installed from 2021 to 2023 combined.

"This achievement is a direct result of strong policy reforms, streamlined regulatory processes, and the government’s steadfast commitment to advancing clean energy," the DOE stated.

The government also attributed this to investment-friendly mechanisms that attracted greater private sector participation, accelerating the RE transition.

Energy Secretary Raphael P.M. Lotilla called this record a "testament to the effectiveness of the government’s renewable energy policies and the unwavering commitment of President Ferdinand Marcos Jr.'s administration to chart a more self-reliant energy future for the Philippines.”

“This milestone underscores our collective determination to accelerate the clean energy transition. With sustained collaboration, strategic investments, and policy support, we are confident in achieving our target of increasing the renewable energy share in the power generation mix to 35 percent by 2030 and 50 percent by 2040,” he added.

The DOE cited key policy and regulatory enhancements as drivers of increased renewable capacity, including efficient application and permitting processes for energy projects through the Energy Virtual One-Stop Shop System (EVOSS).

The increase in the minimum RE requirement from one percent to 2.5 percent in 2023 has also boosted demand, resulting in more RE capacity connected to the grid.

Furthermore, declining technology costs, such as for solar panels, due to economies of scale and technological advancements, have made RE more competitive with fossil fuels.

The DOE continues to monitor critical transmission line projects that facilitate the integration of clean energy into the generation mix.

It is also coordinating with the Bangko Sentral ng Pilipinas (BSP) and other agencies to explore financing instruments for sustainable projects, including green energy, energy efficiency, climate adaptation, and low-carbon solutions. The government is also actively pursuing foreign investment.

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Department of Energy (DOE)
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