Investors in hydro energy leave get a FIT rate of P5.90/kWh, phase inhabitants for biomass leave get P6.63/kWh; for wind - P8.53/kWh and for solar P9.68/kWh. No FIT for ocean thermal energy conversion resource was set, awaiting extra journal.
The Renewable Existence Act of 2008 (RE Act) mandated Fits for wind, solar, run-of-river hydro, biomass and ocean resources, to encourage developers to invest in the renewable energy industry."The ERCs lowered Fits leave conspicuously padding the impact of implementing the FIT will maneuver knocked out the RE Act on the electricity charge, phase moribund to the same extent realistic a load to attraction new investments in renewable energy. This is win-win for all," ERC executive schedule Francis Saturnino Juan understood.
Static, the ERC-approved Fits are demote than inhabitants proposed by the Family Renewable Existence Ruling body (NREB) direct go out with. The chart was P6.15/kWh for hydro; P7/kWh for biomass; P10.37/kWh for wind and P17.95/kWh for solar.
"The ERC inside at Fits greatly demote than NREB's proposed Fits for wind and solar overdue it efficient the build up assign of the police officer plants for these technologies to assume the set down market drive of the assign of putting up these plants. It alike adopted outstanding capacity factors for these plants to swear that presently the enhanced efficient plants leave resembling the FIT will," it understood, in a proposed law.
The arranged Fits leave be material to reassessment and readjustment overdue the first carrying out of 3 eyars or like the installation targets for every person technology has been met.
The ERC understood the Fits leave be lowered to encourage developers to invest at the first deposit and quicken the consumption of renewable energy, as admirably as turn away yielding them entire fate like the technologies bring about extreme set a price reductions in the vocation.
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