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THE country has an opportunity to tap into the market for renewable energy (RE) components such as solar photovoltaic (PV) modules, commonly known as solar panels, the Philippine Exporters Confederation Inc. (PhilExport) disclosed over the weekend.
The statement followed a report from the Geneva-based International Trade Centre (ITC) saying, “countries have room to expand their exports in several markets.”
The market for solar panels, said PhilExport, includes the United States, China, the Netherlands, Vietnam and Germany, with potential revenues of over $500 million. This was broken down as follows: US, $189.4 million; China, $171.6 million; the Netherlands, $64.7 million; Vietnam, $46.4 million; and Germany, $43 million.
To tap into this potential and boost market share, the report said, there is “a need to invest in building a strong capacity to comply with both technical and non-technical regulations.”
PhilExport explained the country must invest in market intelligence tools to fill data and information gaps, participate with manufacturers and traders of components, and focus export promotion efforts and export strategies on high-potential RE components.
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“Market intelligence tools enable businesses to identify export opportunities and to enhance transparency around requirements in foreign markets,” the report said.
While tariff barriers are minimal in many of these markets, PhilExport said non-tariff barriers, such as complex regulations, standards and certification requirements, hinder the country’s ability to capitalize on these opportunities.
The study also identified key policy considerations for developing countries to boost trade in solar PV and wind energy systems, while improving conditions in the supply chain.
These policy recommendations include the need for developing regulations and standards for RE goods; investing in regional value chains for RE goods and services; investing in quality infrastructure and skills development; and promoting foreign investment in RE value chains and access to foreign expertise.
“Helping countries establish national regulatory standards on these goods, through adoption of international standards, can improve the level of quality and safety of RE products and technologies, facilitating local deployment as well as exports,” the report said.
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