The Department of Energy (DOE) on Tuesday announced that capacity addition in renewable energy (RE) in 2024 surpassed the total RE installed in the past three years. A total of 794.34 megawatts (MW) of new RE capacity was added, exceeding the combined 759.82 MW from 2021 to 2023. The growth highlights efforts to achieve energy self-reliance, with contributions from key policies and declining technology costs.
Energy Secretary Raphael Lotilla said the surge in RE capacity is the result of effective policies and commitment under President Ferdinand Marcos Jr.’s administration, aiming for a 35 percent renewable energy share by 2030. Alongside this, the Wholesale Electricity Spot Market (WESM) recorded its lowest average price in two years, with a 14.3 percent drop in January 2025 compared to December 2024, signaling a market trend driven by higher supply margins and lower demand.
The double achievement underscores the Philippines’ strides towards a cleaner, more sustainable energy future, with RE now comprising 31.5 percent of the country’s on-grid power supply.
