Philippine green energy tariffs due 2014

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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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. 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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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