Abstract: The Republic of the Philippines is confronted with rebuilding its energy landscape, which now depends heavily on imported fossil fuels for a substantial supply. The Department of Energy (DOE) has established lofty objectives to enhance the nation's renewable energy (RE) capability; nevertheless, these objectives are still to be achieved. This research supports DOE's goals by studying other possible renewable energy sources. In particular, the primary aim of this research is to examine the viability of Offshore Wind Converters (OWCs) and Wave Energy Converters (WECs) as viable sustainable energy options for the Philippines. Ocean wave converters (OWCs) provide inherent benefits in terms of dependability and have widespread societal acceptance. Conversely, wave energy converters (WECs) harness the vast energy potential contained within ocean waves. A comparative evaluation was undertaken to analyze the differences between these two potential renewable energy sources. The assessment concludes that OWCs possess a minor advantage over WECs regarding their economic viability and higher societal acceptability. It recommended that the government adopts a diversified energy portfolio, which may include the incorporation of WECs to effectively navigate the changing dynamics of the energy sector, enhance sustainability, and ensure the long-term security of the nation's energy supply.