The Pinoy Business Chronicle

Business news and analysis. Covering financial news, economic issues, stock market data, local business, business policy and more.

Philippines Economy News

DoE to expedite national renewables plan update

doe to expedite national renewables plan update 816x445 - DoE to expedite national renewables plan update

THE Department of Energy (DoE) said it is working to complete the “long-overdue” update to the national renewable energy plan (NREP).

Energy Secretary Alfonso G. Cusi ordered the department’s Renewable Energy Management Bureau to prioritize the update. The government targets the installation of at least 20 gigawatts of clean energy over the next two decades.

“There is a need to fast-track the NREP to help the country achieve the goals set forth in the Renewable Energy Act of 2008,” the Energy chief said.

The department introduced the goals of the updated renewables plan for 2020-2040 in its accomplishment report for President Rodrigo R. Duterte’s fifth State of the Nation Address.

It said the plan involves a “paradigm shift” in favor of renewable energy systems, including utilization by the agriculture, fisheries, health, and education sectors.

Aside from large-scale renewable energy projects, it will seek more investment in net metering, a billing mechanism that credits owners of solar energy systems for any surplus energy they inject into the grid.

It is also expecting the compliance of the energy industry with the department’s various renewable energy policies, such as the Renewable Portfolio Standards, the Green Energy Auction Policy, Renewable Energy Market Rules, the Green Energy Option Program, and the Smart Grid Policy.

The DoE hopes to bring renewables to 35% of the country’s generation mix over the next decades. Last year, the energy source accounted for 21% of the mix, down from over 25% in 2014, according to the National Renewable Energy Board. — Adam J. Ang

Leave a Reply

Theme by Anders Norén