The Energy Regulatory Commission (ERC) has released the preliminary Green Energy Auction Reserve (GEAR) prices for the second round of the Green Energy Auction Program (GEAP).
In a statement, ERC noted the prices are as follows: Php 4.7156 per kilowatt-hour (kWh) for rooftop solar, Php 4.2395/kWh for ground-mounted solar, Php 4.7565/kWh for floating Solar, Php 5.9823/kWh for wind, and Php 5.1475/kWh for biomass.
The GEAR price for waste-to-energy has yet to be disclosed by the ERC.
The disclosure of the prices is in accordance with Department Circular No. DC 2021-11-0036 of the DOE, also known as “Providing the Revised Guidelines for the Green Energy Auction Program (GEAP)” in the Philippines, where the ERC determines the GEAR prices or the maximum price offer that is used as the ceiling price of the auction.
For ground-mounted solar, the target for Luzon is 1,420 MW, 325 MW for Visayas, and 280 MW for Mindanao.
Meanwhile, the target for roof-mounted solar is 160 MW for Luzon, 45 MW for Visayas, and 30 MW for Mindanao.
As for onshore wind projects, the target capacity by 2024 for Luzon is 800 MW and 400 MW for Visayas.
Biomass installation targets, meanwhile, are 20 MW for Luzon, 100 MW for Visayas, and 20 MW for Mindanao.
