Solar power gains ground as big firms push for lower costs and climate readiness

Major developers scale up clean energy: SM Prime Holdings hits 100 MW rooftop solar target; Ayala Group’s ACEN targets 7 GW operating capacity by 2027

Solar power projects have generally helped large companies cut operating costs, especially for energy-intensive facilities like malls, hotels, and manufacturing plants. In the Philippines, where electricity rates are among the highest in Asia (often second only to Singapore in the region), businesses using their own solar systems report lower utility expenses during daytime operations. These systems also help stabilize energy use during peak hours, which can lessen the impact of supply issues and grid disturbances.

Aside from cost savings, programs like these improve a company’s public image. Sustainability metrics are becoming part of how investors and consumers evaluate brands, and companies that adopt renewable energy tend to be seen as more forward-looking and responsible. Some firms also benefit from government incentives, such as simplified approval processes or eligibility for green financing.

The Philippines faces stronger storms each year, with at least two powerful typhoons hitting the country recently. These events bring not only loss of life but also billions of pesos in agricultural and infrastructure damage. As climate-related risks grow, the push for renewable energy has become more urgent, highlighting why more companies are turning to solar and other clean technologies to help reduce long-term vulnerabilities.

SM Prime holdings hits 100 MWp milestone