The Department of Energy (DOE) announced that the Philippines installed 794.34 megawatts (MW) of renewable energy capacity in 2024, surpassing the combined output of the past three years. This achievement highlights the country’s strides toward energy security, resilience, and sustainability as it transitions to a cleaner power sector.
“The unprecedented growth in renewable energy capacity last year is a testament to the effectiveness of the government’s renewable energy policies and the unwavering commitment of the administration of President Ferdinand Marcos Jr. to chart a more self-reliant energy future for the Philippines,” said Energy Secretary Raphael P.M. Lotilla.
Several key reforms contributed to this milestone, including the integration of all energy project applications into the Energy Virtual One-Stop Shop System (EVOSS), which has streamlined regulatory processes and improved approval efficiency.
The adjustment of the annual renewable energy target from 1% to 2.5% in 2023 further accelerated investments in clean energy projects across the country. Lower technology costs, particularly for solar panels, also played a crucial role in making renewable energy more competitive with fossil fuels.
To ensure that newly generated renewable energy reaches consumers efficiently, the DOE is prioritizing the development of vital transmission lines. The agency is also working with the Bangko Sentral ng Pilipinas (BSP) and international partners to develop innovative financing instruments that support renewable energy projects, energy efficiency initiatives, and climate adaptation solutions.
For more updates on the role of renewable energy in building a stable and sustainable power grid and how continued investments are driving the country’s energy transformation, stay informed with Power Philippines.
