Located within the two tropical zones, the Philippines has a strong potential to become a hub of solar power production. According to Dutch consultancy firm, Solarplaza, the country ranks fifth in terms of the use of solar photovoltaic (PV) systems for electricity generation in Asia.
We provide schemes for businesses engaged in the solar power industry that are designed to promote the use of renewable energies and low-carbon electricity generation technologies. This innovation is driving more demand and increasing productivity among manufacturing companies relying on solar power.
Key players
Major active players already in the country include Solar Philippines Power Project Holdings, Solenergy Systems, Solaric Corporation, Vena Energy and Trina Solar. To date, 110 MW in the current supply comes from operating projects from public and private sectors that help increase solar power.
Warning: Undefined variable $transition_delay in /var/www/html/philippines.business/wp-content/themes/stockholm/vc_templates/vc_single_image.php on line 226
Key Statistics
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-money” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”100″ icon_position=”top” title=”US$4.8BN” title_tag=”h2″ text=”Investments in solar energy to the Philippines” icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-users” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”200″ icon_position=”top” title=”946″ title_tag=”h2″ text=”New jobs created under the industry” icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-line-chart” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”300″ icon_position=”top” title=”500 MW” title_tag=”h2″ text=”Target increase on the annual national power capacity” title_color=”#ffffff” icon_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-money” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”400″ icon_position=”top” title=”US$ 0.25/W” title_tag=”h2″ text=”Cost of solar PV systems, making solar the largest source of cheaper power” icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-file” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”100″ icon_position=”top” title=”86 Contracts” title_tag=”h2″ text=”Awarded for solar power projects which aim to produce a total capacity of 6.465 GW” icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-line-chart” icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”200″ icon_position=”top” title=”13.4%” title_tag=”h2″ text=”Expected compound annual growth rate (CAGR) increase by 2025″ icon_color=”#ffffff” title_color=”#ffffff”]
[icon_text box_type=”normal” icon_pack=”font_awesome” fa_icon=”fa-battery-4″ icon_type=”normal” icon_size=”fa-5x” icon_animation=”q_icon_animation” icon_animation_delay=”300″ icon_position=”top” title=”7,000 MW” title_tag=”h2″ text=”Power generation projected to be added in the next 5 years” icon_color=”#ffffff” title_color=”#ffffff”]
Incentives
- Multi-year income tax holidays
- Reduced tax rate on gross income
- 0% duty on imports of equipment
- Tax credit on imports of raw materials and supplies
- Zero added tax for exports
Want to talk?
Request a free consultation with one of our investment specialists today.
[qbutton size=”large” target=”_self” font_weight=”” text=”Contact us now” link=”/contact”]