The Philippines could potentially export US788.4 million worth of solar photovoltaic (PV) modules, yet high energy costs and expensive raw materials are stalling industry growth, according to the Philippine Solar and Storage Energy Alliance (PSSEA). Industry experts suggest starting with panel assembly, consolidating supply chains, and securing government incentives to make the country a competitive player in the global solar market.
In a report by Business World, PSSEA Chairman Ma. Theresa Cruz-Capellan highlighted that while government policies have started to ease power costs for manufacturers, the persistent challenge of expensive material imports continues to hinder the solar PV manufacturing sector’s growth.
She pointed out that strategic incentives could boost the industry’s capacity, helping the country become a competitive hub for solar panel manufacturing.
The Philippines has the potential to export USD 788.4 million worth of solar PV modules to markets like the United States, China, the Netherlands, Vietnam, and Germany, according to the International Trade Centre (ITC).
Cruz-Capellan proposed prioritizing panel assembly as an initial step while addressing supply chain challenges, highlighting the country’s dependence on imported materials.
She stressed that a competitive edge against Vietnam and Malaysia requires a strategic, long-term plan.
Vietnam’s solar PV module exports surged to USD 6.9 billion in 2022, capturing nearly 10% of the global market, while Malaysia holds a 6% share, ITC data showed.
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