Investments totaling P87 billion were logged by the Department of Energy (DoE) from the 205 contracts already awarded for prospective developments of various renewable energy resources, but hurdles to implementation have yet to be addressed.
The updated figure has been presented by energy officials in a hearing called for by the House committee on energy this week.
In documents furnished to Congress, the energy department indicated that of the total contracts awarded, 33 are existing; 163 are classified as pre-development contracts; and nine contracts already reached development stage.
Despite the influx of prospective investments, the DoE acknowledged that renewable energy is still considered an expensive option especially in a country which have budget-conscious consumer base.
The answer to cost concerns as packaged by policymakers and regulators then would be to push for a 20-year levelized subsidy scheme via the proposed feed-in-tariff. And to stimulate expanded investments in RE, there are also provisions in instituting renewable portfolio standards.
Nevertheless, it was stipulated that “the government should also not allow unrestrained expansion of renewable energy investments because the sector is subsidized” and also to avoid depletion of specific resources.
The chunk of proposed RE projects are a mix of the traditional technologies, like hydro and geothermal; while emerging technologies have more on wind and biomass. The energy department though noted an increasing interest in ocean thermal energy resource development.
On the filing for FIT, the National Renewable Energy Board (NREB) recently asked for 60-day extension or until around October this year to lodge an application for levelized feed-in-tariff. Most RE developers are waiting for the approval of the FIT Allowance (FIT All), a universal charge-like added component in the electric bills before taking their respective project blueprints from the drawing board and into implementation phase.
According to the energy department, the corresponding FITs for wind and solar projects are still high, hence, the need to come up with a formula to soften the final number so it will not eventually come out punishing to consumers. –MYRNA M. VELASCO, Manila Bulletin
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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