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Philippines Imports $407M in Solar Panels in Q2, Up 145% Year-over-Year as Electricity Prices Soar

2026-06-29 01:12:10

According to Chinese trade data, the Philippines imported $407 million in solar panels in the three months through May, a 145% increase year-over-year, driven by soaring residential electricity prices. Meralco, the country's top power distributor, has raised rates by 10% since late February, with median households now spending around 12% of monthly income on electricity. Demand for rooftop installations is surging—Philergy German Solar, a Manila-based installer, received 2.5 times more customer inquiries in the first five months of 2026 compared to the same period last year, fielding up to 3,000 inquiries daily.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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