The Philippines was earmarked as a key emerging market this year by IHS,Â the leading global source of critical information and insight.
In 2015, Philippines installed 122 megawatt (MW) of grid connected solar PV according to the last figures from Department of Energy (DOE) taking its tally to 144 MW up from 22 MW the previous year.
There were aboutÂ 124 grid-connected projects in the pipeline that had been awarded under the country’s renewable energy (RE) law, with a total ofÂ 4,016 MW.
Also, 13 self-consumption projects totaling 2.4 MW wereÂ awarded. Total self-consumption capacity stands at 1.9 MW.
The DOE had a total of 59 projects pending under the RE law with a combined capacity of 1,456 MW.
Josefin Berg, senior analyst for the IHS solar research group, where she performs market analysis of trends and strategies in the downstream part of the PV market, said the Philippines developed very quickly in 2015 after clarifying its feed-in tariff (FIT) scheme and putting in a deadline for installations by March 2016.
Originally from PV Tech