Japanese firms bullish on PHL solar panel market

Japanese firms offering renewable energy systems see the Philippines as a good market given a steadily growing demand for power, although the high amount of investments needed remains a barrier to entry. “The Philippines is a very good market for PVs [photovoltaic panels] because you have many demand for power, you need much more electricity because the country is growing,” Ikumasa Kojima, senior manager for the Mitsubishi Electric Corp.’s (MEC) lighting, ventilation, home equipment & photovoltaic systems division, said on the sidelines of a tour at the company’s Smart House facility in Ofuna City Kanagawa Prefecture on Tuesday. “You have the feed-in-tariff [FiT] program, and the infrastructure in the Philippines is already being [built].” Read more here.

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