[ad_1]
THE PHILIPPINES have achieved a "turnaround" in energy supply from renewable sources through policy innovations that have reduced costs, placing the country sixth among developing countries in the 2018 Climatescope ranking. by Bloomberg New Energy Finance Ltd.
The Philippines earned a score of 2.29 points, ranking them sixth in the context of rising electricity demand, decreasing technology costs and innovative laws.
"It's all a reversal of the situation. Only a few years ago, some argued that less developed countries could not, or even should not, develop energy production with zero carbon sources because they were too expensive. Today, these countries are at the forefront in deployment, investment, policy innovation and cost reduction, "said Dario Traum, BNEF senior partner and project manager. Climatescope, in a statement Tuesday.
The BNEF said that the reforms introduced by the Law on the Reform of the Electric Power Industry (EPIRA) or Republic Act No. 9136 and the Renewable Energy Act (RE), or RA 9513, fueled the growth of the renewable energy sector.
In September, the Ministry of Energy also issued a circular stating its intention to identify competitive renewable energy zones (CREZ), where renewable sources are deemed feasible for development.
The government has also taken steps to give energy developers the right to sign energy supply contracts (PSAs) directly with customers. At the same time, the Green Energy Option program allows utilities to provide customers with renewable energy options.
BNEF also noted the country's target of 15.3 gigawatts (GW) of renewable capacity by 2030.
BNEF said the negative points included targets to increase coal's energy capacity up to five times the current level. Additions to coal production capacity dropped to their lowest levels in more than 10 years in 2017, but actual electricity production from coal-fired power plants increased 4% year-over-year former.
The top five in the BNEF ranking were Chile with 2.63 points, India (2.57), Jordan (2.54), Brazil (2.52) and Rwanda (2.31). China, which won first place last year, finished seventh. – Vincent Mariel P. Galang
[ad_2]
Source link
