On May 5, 2015 the MIT Energy Initiative released a comprehensive study about the future of solar energy. As a popular renewable energy solution for meeting the world’s long-term energy needs, the acceptance of solar power continues to rise.
A Decision Tool for Solar Power Policies
In this regard, the study was presented to law makers and senior administration officers in Washington. The study’s aim is to reflect on the technical, commercial and policy dimensions of solar power for proper decision making in effective federal and state support. More so, the study was also aimed to increase support for research and development, technology demonstration and solar deployment.
According to MITEI’s director, Robert Armstrong, the objective of the study was to asses solar energy’s current and potential competitive place for improving efficiency and effectivity in US government policies in supporting its massive deployment of the technology over time.
Furthermore, the study proves that focus is needed to shift toward new technologies and policies that may make solar power a compelling economic option.
A Comparison to Philippines’ Bland Solar Power Incentives
Meanwhile, in the Philippines, the only incentives for renewable energy producers are limited. Unlike in the U.S. where numerous federal incentives are offered, locally, the benefits are limited (if not hampered) to Net Metering at less than half the buying electricity rate and import tax exemption only IF the importer will be using the imported equipment. More in this issue in another Lodestar Solar Power Philippines article.