The Philippines can tap a USD 788.4-million export market for solar photovoltaic (PV) modules if it can address non-tariff barriers, according to the Philippine Exporters Confederation, Inc.
PV technology refers to devices that convert sunlight into electrical energy. A single PV cell is typically small, generating about 1 to 2 watts of power. To increase power output, multiple PV cells are connected in series to form larger units called modules or panels.
PV modules are critical components of solar power systems, enabling the transition to cleaner, more sustainable energy sources worldwide.
In a Business World report, the International Trade Centre (ITC) said that resolving trade hurdles can unlock not just export potential but also attract foreign investment into the country’s renewable energy (RE) value chain.
It suggested developing market intelligence tools to provide businesses with insights into export opportunities and transparency regarding foreign market requirements.
Additionally, ITC said that engaging with manufacturers and traders of solar components will help identify the necessary support and capacity-building initiatives to meet export standards. A robust compliance framework for technical and non-technical regulations is critical for securing duty-free access to major markets.
Major export prospects have emerged in key markets, including the United States (USD 189.4 million), China (USD 171.6 million), the Netherlands (USD 64.7 million), Vietnam (USD 46.4 million), and Germany (USD 43 million), presenting an opportunity for the country to broaden its presence in renewable energy sectors.
The ITC further proposed crafting national standards for RE goods aligned with international benchmarks. This would elevate the quality and safety of RE products, enabling better local deployment and export potential, while signaling readiness to global investors.
Other recommendations included investing in regional value chains, improving quality infrastructure, and enhancing skills development to position the Philippines as a competitive player in the global RE market.
Trade agreements should also be leveraged to attract foreign investors and streamline the entry of professionals and exports in the RE sector, ITC noted. When effectively utilized, these agreements can facilitate market access and enhance the appeal of the Philippines as a renewable energy hub.
By addressing these barriers, the Philippines can not only increase its solar PV exports but also position itself as a destination for foreign investment in renewable energy technologies.
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