The Department of Energy on Tuesday reported record-breaking renewable energy capacity additions in 2024, surpassing the total capacity installed over the past three years combined.
The Philippines added 794.34 megawatts (MW) of new RE capacity in 2024, exceeding the combined 759.82 MW installed in 2021 (230.10 MW), 2022 (328.18 MW) and 2023 (201.54 MW).
The DOE said the net-metering program contributed around 141 MW from 2015 to 2024, while RE projects for own-use from 2009 to 2024 generated at least an additional 252 MW.
DOE Secretary Raphael Lotilla said “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.”
The capacity additions helped strengthened grid reliability and resilience, providing a more stable and secure energy supply for Filipino consumers.
The agency attributed this record achievement to strong policy reforms, streamlined regulatory processes, and the government’s steadfast commitment to advancing clean energy.
It said investment-friendly mechanisms also played a critical role in attracting substantial private sector participation, further accelerating the country’s RE transition.
The agency said key policy and regulatory enhancements have contributed to this rapid capacity addition such as the integration of all applications and permitting processes for energy projects, including RE, in the Energy Virtual One-Stop Shop System has improved the efficiency of application processing, allowing investors to navigate approval procedures more seamlessly.
It said the increase in the minimum annual incremental RE requirement from 1 percent to 2.5 percent starting 2023 for grid-connected mandated participants or the renewable portfolio standards has led to a stronger demand for renewable energy, encouraging more capacity to be added to the grid.
Factors such as declining technology costs also contributed to RE capacity addition, as the significant decrease in the cost of solar panels—driven by economies of scale and technological advancements—has made renewables more competitive with fossil fuels.
The DOE said that to maximize the benefits of these RE capacity additions and prevent stranded power generation, it is continuously monitoring critical transmission line projects to ensure they are completed on schedule and can support the integration of additional renewable capacity.
It is also working with the Bangko Sentral ng Pilipinas and multilateral agencies to explore the use of innovative financing instruments that support environmentally sustainable projects, including RE, energy efficiency, climate adaptation, and other low-carbon solutions.
The DOE said it is conducting investment promotions overseas to attract foreign investments.
“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,” Lotilla said.