The National Renewable Energy Board (NREB) has proposed a lower feed-in-tariff (FIT) rates for solar and wind for P7.66 per kilowatt hour (kWh) and P6.97 per kWh, respectively.
These will cover the proposed installation targets of 500 megawatts (MW) each for solar and wind, NREB chairman Pete Maniego said during the 4th Annual Philippines Power and Electricity Week.
Previously, the NREB proposed a FIT rate for solar between P7 to P8, and P6 to P7 for wind power. During the first FIT round, wind technology’s rates were P8.53 per kWh before going down to P7.40 per kWh in the second round. Solar technology was at P9.68 and P8.69 in the first two rounds, respectively.
FIT rates for ocean power were also proposed. Maniego said unless these rates were finalized, the industry was not going to move.
Increasing the maximum installation capacity per site of renewable energy developments has also been suggested, as well as finalizing the rules for the Renewable Portfolio Standards (RPS). The RPS requires industry stakeholders to produce and source a portion of their electricity from RE sources.
Maniego also said the NREB is proposing the simplification of the process for net metering, where end-users can sell a portion of excess electricity they generate.
To support the fight against climate change, the advisory body recommended imposing carbon tax on imported fossil fuels.