PH to reap more benefits once the 35% target is met

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With continuous encouragement to integrate more renewable energy (RE) into the grid, Head of Government Affairs and Data Protection Officer of the German-Philippine Chamber of Commerce and Industry, Yves Aguilos, said a lot of benefits can be attained in choosing to undergo the RE transition. 

“There are reasons behind the energy transition and we see the advantages of the utilization of renewable energy. For example in physical, local distribution of energy resources, availability, inexhaustible use of energy, for political, increased energy independence, geopolitical stability, and regional cooperation coordination. So a lot of reasons can be attributed.” Aguilos said.

In the recently concluded 2nd World Clean Energy Philippines Conference, Aguilos shared that the RE share of the country is still far away from the goal as the Department of Energy (DOE) reported. 

With only a few years remaining to achieve the 35% target by 2030, the renewable energy share in the mix is currently at 29%, with 30% in dependable capacity and 22% in power generation.

He then said that in order to achieve this goal, the country needs to look into investments that achieve a successful energy transition in the Philippines.

Aguila used Germany as an example of why the RE transition would benefit the Philippines. The transition allowed Germany to obtain a sustainable energy system with affordable, reliable energy in line with environmental and climate guidance, reduce dependency on energy imports, and develop new and innovative technologies. 

Germany focused on three main ideas as they progress to RE. First is energy efficiency which is the optimization of energy usage, Second is the direct use of renewable technology, and last is sector-competing which is the integration of different energy-related processes and technology. 

Moreover, Aguilos also shared that with the Philippines recently opening 100% foreign ownership, the country will receive more investments and in attracting more investors, it would ensure that the transition causes more job openings for the country and open more opportunities moving forward. 

“So our energy landscape demands issue and this is a motivation for us to attract or let’s say invite investors…. and the number two, Germany’s energy transition or NFE Banda journey offers us a valuable lesson on how to roadmap our success in the future… in attracting more investors and seeing opportunities moving forward,” Aguilos added.