Accelerating Renewable Energy (RE) investments is crucial for the Philippines to achieve environmental sustainability, energy security, and inclusive economic growth. Despite of the Philippines’ vast RE potentials and policy progress, investors face numerous challenges. This study investigates the multifaceted challenges hindering RE investment and development in the Philippines. It proposes strategic solutions to accelerate the country’s energy transition from fossil-based to renewable energy sources. Using an exploratory mixed- methods approach, the study surveyed RE investors and developers to collect qualitative data on perceived challenges and key factors influencing investment decisions. This process resulted in the development of the Renewable Energy Acceleration for Sustainability (RE-AcceS) model. Findings reveal that while environmental advocacy is a primary motivator for investment, progress is constrained by significant and interconnected barriers across seven key areas: regulatory, financial, market, human resource, technological, resource, and social acceptance. The research identifies specific issues, such as complex permitting processes, high upfront costs, and grid instability, as major obstacles. The study proposes a comprehensive set of strategies, including streamlining regulations through the full implementation of the Energy Virtual One-Stop Shop (EVOSS), expanding access to green financing and incentives, modernizing grid infrastructure, and integrating RE education into curricula to build a skilled and future-ready workforce. The RE-AcceS model, built on a multi- stakeholder, integrated approach, illustrates how de-risking investments and enhancing enabling systems can simultaneously drive progress. The study concludes that addressing the RE investment challenges is crucial for the Philippines to achieve its goal of a 50% RE share in the energy mix by 2040, ultimately ensuring energy security, environmental resilience, and sustainable economic growth.

Keywords: renewable energy; investment challenges; sustainable development; de-risking investments; environmental advocacy; energy transition