Arjane Nicdao*, Florinda G. Vigonte, Marmelo V. Abante, Ma. Cristina Estioco
This systematic literature review concerns the Balance of Payment (BOP) constraints concerning green energy growth in the Philippines, specifically in solar energy development. As the Philippines seeks to diversify its energy mix and reduce dependence on imported fuels, solar energy presents a promising avenue for sustainable development. The declining cost of Solar PV significantly affected the solar market positively, and solar installations in the Philippines increased for commercial, residential, and industrial consumers. However, the transition to solar energy faces challenges in the BOP constraints, including reliance on imported solar technology and equipment. This study explores strategies to mitigate constraints, such as promoting domestic manufacturing, enhancing technology transfer, and leveraging international partnerships. This research also contributes to the understanding of BOP constraints in the context of Solar energy development. It offers actionable recommendations for policymakers, industry stakeholders, and investors to foster a robust and sustainable solar energy ecosystem in the Philippines.
Published Date: 2025-01-13; Received Date: 2024-06-24
