Philippine green energy tariffs due 2014

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renewable-energy-PhilIn a spur to see half of the Philippines’ energy derive from renewable sources by 2030, the central government has announced that an anticipated green energy incentive scheme should finally come into effect by early 2014.

The proposed feed-in tariff, a popular policy mechanism, will be used to help accelerate investment into renewable energy projects, such as solar, wind, geothermal and biomass.

Under the new incentives scheme, investors in renewable energy will be eligible for power-provider contracts offered above the market rate, measured per every kilowatt-hour sold.

While the move, a pillar of a 2008 renewable energy law, may help kick-start investment, larger renewable projects, such as wind and geothermal, may not get going for another three to five years, Mario Marasigan, the energy department’s renewable energy bureau chief, told AFP.

The long-waited incentives scheme has faced criticism for getting lost in red tape over the past five years, much to the exasperation of the business community.

However, the Department of Energy defended the rollout time, stating that the timeframe was to be expected considering the completely new financing mechanism that was being devised.

Listing the near-term possibilities for the Philippines, Marasigan named solar power as the kind of renewable energy project most likely to first appear in the country under the new feed-in tariff scheme.

 

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Reading Time: 1 minute

In a spur to see half of the Philippines’ energy derive from renewable sources by 2030, the central government has announced that an anticipated green energy incentive scheme should finally come into effect by early 2014.

Reading Time: 1 minute

renewable-energy-PhilIn a spur to see half of the Philippines’ energy derive from renewable sources by 2030, the central government has announced that an anticipated green energy incentive scheme should finally come into effect by early 2014.

The proposed feed-in tariff, a popular policy mechanism, will be used to help accelerate investment into renewable energy projects, such as solar, wind, geothermal and biomass.

Under the new incentives scheme, investors in renewable energy will be eligible for power-provider contracts offered above the market rate, measured per every kilowatt-hour sold.

While the move, a pillar of a 2008 renewable energy law, may help kick-start investment, larger renewable projects, such as wind and geothermal, may not get going for another three to five years, Mario Marasigan, the energy department’s renewable energy bureau chief, told AFP.

The long-waited incentives scheme has faced criticism for getting lost in red tape over the past five years, much to the exasperation of the business community.

However, the Department of Energy defended the rollout time, stating that the timeframe was to be expected considering the completely new financing mechanism that was being devised.

Listing the near-term possibilities for the Philippines, Marasigan named solar power as the kind of renewable energy project most likely to first appear in the country under the new feed-in tariff scheme.

 

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