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
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
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
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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