Philippines leads the world in rush to solar as power prices soar
AI Summary
The Philippines has experienced a significant surge in rooftop solar panel imports, with a $407 million value reported in the three months through May, marking a 145% increase year-over-year. This surge is driven by rising power prices and a growing rush towards solar energy adoption.
The rooftop solar rush has resulted in $407 million in panel imports in the three months through May, a 145% increase from a year earlier, according to trade data from China, which accounts for most global supply
Markets Commodities Energy Philippines solar energy solar panels power prices energy imports renewable energy