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Philippines Becomes World's Top Solar Panel Buyer
By Charles Kennedy of OilPrice.com
People in the Philippines are flocking to install solar power on rooftops and escape the burden of soaring electricity prices, making it the world's biggest spender on solar panels since the war in Iran started.
Top Philippines power distributor Meralco has raised prices by 10% since the Middle East conflict began in late February. Now, a median household spends around 12% of monthly income on electricity, assuming it consumes 200 kilowatt-hours, approximately the monthly average for three people.
Amid record-beating electricity prices and a supply crunch in fossil fuels, many Filipinos have opted to install rooftop solar panels over the past three months.
The spending on solar panels in the Southeast Asian country, which has been one of the worst-hit Asian economies in the energy supply crisis triggered by the Middle East conflict, topped $407 million between March 1 and May 31, per China customs ...
The Philippines' Department of Energy has welcomed the certification of 13 renewable energy projects valued at PHP344.62bn ($5.7bn) under the government's Green Lane initiative in the first five months of 2026....
The Philippines has emerged as China's second-largest export market for solar panels so far in 2026, driven by a rapid expansion of rooftop installations as households and businesses seek relief from some of the highest electricity prices in Asia....
Many prospective investors who won contracts for renewable energy projects in the Philippines had no plans of building them. They were only waiting to sell those rights to someone else for the right price....