THE DEPARTMENT OF ENERGY has identified possible sources of the P2 billion needed for the Renewable Energy Trust Fund, which was put up to help develop and promote the use of renewable energy sources in the country.

According to documents from the DOE, emission fees collected from all generating facilities consistent with the Philippine Clean Air Act will go to the RE trust fund.

The DOE could also collect 1.5 percent of the net annual incomes of the Philippine Charity Sweepstakes Office and Philippine Amusement and Gaming Corp.; 1.5 percent of the net annual dividends remitted to the National Treasury by the Philippine National Oil Co. and its subsidiaries, and 1.5 percent of the government?s share in the fees collected from the development and use of indigenous nonrenewable energy sources.

Also, proceeds from the fines and penalties imposed under the Renewable Energy Act would go to the RE trust fund.

Revenues to be generated from the use of the RE trust fund, as well as the contributions, grants and donations from the private sector, can also be tapped to help build up the fund.

The contributions and donations, however, should be tax deductible subject to the provisions of the National Internal Revenue Code. To ensure this, the Bureau of Internal Revenue should assist the DOE in formulating the rules and regulations to implement this provision.

According to Energy Assistant Secretary Mario Marasigan, the trust fund will serve as a support mechanism for research and development, and utilization of renewable energy sources.

The DOE, he said, would be tasked to administer the fund, or it could engage the services of a fund manager to better oversee fund disbursement.

The creation of a Renewable Energy Trust Fund is provided in the implementing rules and regulations (IRR) governing the Renewable Energy Act of 2008.