Second Version of FIT for Philippines Solar Power (Philstar)

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Manila, Philippines – With the increasing acceptance of consumers for Philippines solar power, solar companies are proposing to increase installation targets for Philippines solar power.

What is the Existing FIT System?

Under the current FIT system, renewable energy producers are entitled to 9.68 PHP per kWh for solar power production, 8.53 PHP for wind power production and 5.90 PHP for hydro power production.

In this regard, the National Renewable Energy Board (NREB) is working on a second version of feed-in-tariff (FIT) incentives for Philippines solar power.

No Rush for New Philippines Solar Power FIT Rate

According to NREB vice-chairman Mr. Ernesto Pantangco, “We did mention a price of maybe something that could be considered by the developers and the Energy Regulatory Commission (ERC) in their deliberations is something like 8.95 PHP per kWh.” Pantangco also mentions his concerns about how certain prices may not be beneficial for the FIT allowance in the long run thus, careful considerations must be taken into account. He also states that the board is currently studying the repercussions on both RE and non-RE stakeholders holding consultations by working with oppositors to determine an appropriate rate.

“We want to encourage (Philippines solar power companies) but at the same time, we want to temper the impact to consumers,” the NREB vice chairman said.

Reference: Philippine Star

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