Solar energy is one of the fastest growing sectors for startups in the Philippines. (Photo: iStock)
The Philippines is witnessing a surge in companies focused on promoting sustainable development, especially in the clean energy sector, where the number of startups has quintupled over the past four years. Most of these startups are concentrated in solar, small hydro, and wind technologies. However, challenges such as small scale and difficulties in fundraising are seen as major obstacles to their development.
Clean energy startups focus on wind, solar, and hydro
A report by the U.S.-based nonprofit organization New Energy Nexus highlights a dramatic increase in clean energy and climate-related startups in the Philippines, growing from 15 to 91 in four years. Nearly half of these startups (49%) belong to the renewable energy generation sector, while others focus on sustainable transportation or smart mobility (8%), energy access (8%), and waste management (7%).
