MANILA, Philippines – The World Wide Fund for Nature (WWF-Philippines) urged the Department of Energy (DOE) to increase the share of renewable energy (RE) in the country’s power mix.
The WWF believes that while the DOE has increased the installation targets for solar energy under the so-called Feed-In-Tariff (FIT) program, the next step is to commit to specific targets for wind energy.
“WWF believes that with the increase in solar, an additional increase in wind energy installation targets is a firm, next step that the DOE can commit to,” the group said.
FIT is a set of incentives given to renewable energy players.
Under the FIT system, renewable energy companies are entitled to the following FIT rates: P9.68 per kwh for solar power, P8.53 per kwh for wind and P5.90 per kwh for run-of-river hydroelectric power.
WWF said that about 70 percent of Philippine electricity is currently generated from fossil-fuels, with 90 percent of coal and oil resources imported at varying prices from other nations.
Business ( Article MRec ), pagematch: 1, sectionmatch: 1
On the other hand, the group said that clean and renewable sources of energy such as geothermal, hydro, wind and solar energy are among the Philippines’ few competitive advantages, especially since the country has no significant deposits of fossil fuels.
“Its continued reliance on imported fuel has made Philippine electricity rates among the highest in Asia,” it said.
If the country relies more on renewable energy than on imported fuel, consumers may benefit from lower electricity prices and would be protected from volatile oil prices.