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Market Chatter: Philippines Leads Solar Panel Imports as Power Prices Surge

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The Philippines has emerged as the world's largest solar panel import market following a 10% surge in electricity prices since the US-Iran war began in late February, according to a Reuters analysis, citing trade data.

The country's imports of solar panels from March through May reportedly jumped 145% from a year earlier to $407.1 million, the world's largest amount after the Netherlands, which is a transshipment hub, the report said.

Philergy German Solar, as cited by the news agency, said the number of customer inquiries it received for rooftop solar during the first five months of the year was 2.5 times higher than a year earlier, with the daily number reaching up to 3,000.

The energy department did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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